House of Blues . . . sold
TEXT OF STORY
MARK AUSTIN THOMAS: It was 14 years ago that Blues Brother Dan Aykroyd and the owner of the Hard Rock Cafe launched the House of Blues clubs. Now Rachel Dornhelm says the chain has new owners.
RACHEL DORNHELM: Concert promoter Live Nation has completed its acquisition of the House of Blues music venues for $354 million.
House of Blues was known as a last holdout in the live events industry consolidation of the past few years.
Music writer Fred Goodman says he doubts the move will affect ticket prices, but it will likely narrow venue options — bad news for concert-goers and performers.
FRED GOODMAN: You know if an artist wants to go out on tour and he only has one potential buyer for a national tour. that's not a very good situation for negotiation, is it?
The name Live Nation might not ring bells. But what about "the live events company formerly known as Clear Channel"? Live Nation was spun off the media giant last December.
I'm Rachel Dornhelm for Marketplace.