Gray Television Ole Red Colin Reed Entertainment country Music and Gray Television Ole Red Colin Reed

NBCUniversal And Investment Partner Pay $293M For 30% Stake In Grand Ole Opry And Related Country Music Properties

Reading now: 412
deadline.com

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.

Read more on deadline.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA