Really Useful Group in Talks to Sell 4 UK Theatres

The Stage is reporting that Andrew Lloyd Webber and the Really Useful Group are in talks to sell four of his London theatres (the New London, Palace, Cambridge and Her Majesty's ) to a consortium led by former BBC and ITV chairman Michael Grade and theatrical agent Michael Linnit.

The price is said to be in the range of 50 million pounds and negotiations are ongoing. Lloyd Webber also owns the London Palladium, Theatre Royal Drury Lane and co-owns the Adelphi (with the Nederlanders).

At the heart of RUG's business are the musicals of Andrew Lloyd Webber, including Joseph and the Amazing Technicolor Dreamcoat, Jesus Christ Superstar, Evita, Song and Dance, Starlight Express, The Phantom of the Opera, Aspects of Love, Sunset Boulevard, By Jeeves, Whistle Down the Wind, The Beautiful Game and The Woman In White. In addition to his own musicals however, Andrew's productions include A R Rahman's Bombay Dreams in London and New York and the recent production of the Rodgers and Hammerstein classic The Sound of Music at the London Palladium, which is now playing in Toronto, Canada.

RUG is now an established international entertainment company, with its head office in London and Sydney that produce and coordinate Lloyd Webber's works throughout the world. The company's theatre and concert production, recording, merchandising, music publishing and licensing, digital and television, film and video divisions provide specialised services for Lloyd Webber's works and also to other producers and authors.

The board of directors consists of Andrew Lloyd Webber, Madeleine Lloyd Webber, André Ptaszynski (Chief Executive), Howard Witts (Finance Director), Jonathan Hull (Legal and Business Affairs) and Mark Wordsworth (Chairman).

Wholly owned The Really Useful Group Theatres, Ltd owns six theatres in the West End including the world famous Theatre Royal, Drury Lane and The London Palladium as well as co-owning The Adelphi Theatre. RUG Theatre Projects include the new musical Love Never Dies and co-producing the Australian production of Priscilla, Queen of the Desert which opened at the Palace Theatre in March 2009.