NBCUniversal and investment partner Atairos have paid $293 million for a 30% stake in fabled country music brand the Grand Ole Opry and a cluster of related Nashvlle-based live entertainment and assets.The Opry’s home, Ryman Auditorium, is known for hosting the Country Music Awards.
It is a cornerstone of Opry Entertainment Group, the division of Ryman Hospitality Properties receiving the investment from NBCU.
Along with the Ryman and the Opry itself, a nearly centuty-old country music showcase, properties include a smaller collection of music venues called Ole Red, radio station WSM-AM and a 50% interest in country lifestyle media network Circle.
The network is a joint venture with Gray Television, a major station group owner. The weekly “Grand Ole Opry” stage show streams on Circle.Atairos is shouldering almost the entire cost of acquiring the stake, putting in $278 million, compared with a direct investment of $15 million by NBCU.
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