LOS ANGELES – January 11, 2010 – Key Brand Entertainment Inc. (KBE) has announced that it has entered into a definitive agreement to acquire the Broadway ticketing division of Hollywood Media Corp. (Nasdaq: HOLL), which includes Broadway.com. KBE’s Executive Vice President and General Counsel, David Stern, said the transaction will be completed early this year. Jeffer Mangels Butler & Marmaro LLP (JMBM) is representing KBE in the deal.
Key Brand Entertainment is a leading developer, producer, and distributor of live theatre in North America through Broadway Across America, the largest Broadway theatre touring organization in the U.S. Broadway Across America, which has a touring subscription series in 42 cities across the U.S., has produced and presented productions of such hits as Chicago, Rent, Wicked and West Side Story. KBE’s deal to acquire one of the industry’s premier ticketing sites, Broadway.com, also allows the company to expand its presence in New York as well as in London.
The deal includes the purchase of Hollywood Media Corp.’s group-sales company, Theatre Direct. The transaction comes two years after KBE bought Broadway Across America from Live Nation Worldwide, Inc. for more than $90 million. JMBM also represented KBE in the acquisition of Broadway Across America.
The acquisition is subject to certain customary conditions to closing, including the approval of Hollywood Media’s shareholders.
About Key Brand Entertainment Inc.
Key Brand Entertainment Inc. is the leading developer, producer, and distributor of live theatre in North America and is focused on building a platform dedicated to all types of theatrical business including stage show licensing, production, and acquisition. Led by entertainment industry veterans, Chairman Thomas B. McGrath and CEO John Gore, COO & Head of Production Beth Williams, CFO Liam Lynch, and General Counsel David B. Stern, KBE continues to build on its significant expertise and geographic reach to broaden its production platform while simultaneously presenting Broadway and the West End’s biggest hits to North America, Japan, the United Kingdom, as well as emerging theatre markets. For more information visit www.kbeinc.net.
About Jeffer Mangels Butler & Marmaro LLP
Jeffer Mangels Butler & Marmaro LLP is a full-service law firm committed to providing clients with outstanding results. JMBM’s corporate lawyers represent buyers and sellers in mergers, acquisitions and divestitures. The firm is also active in litigation, labor & employment law, real estate, land use, environmental, bankruptcy, intellectual property, taxation and trusts & estates. From our offices in Los Angeles, San Francisco and Orange County, we serve our clients’ needs worldwide. For more information go to www.JMBM.com.
Stanley M. Gibson
Jeffer Mangels Butler & Marmaro LLP