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 Nashville-based live entertainment and a…
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 century-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.
After receiving unsolicited interest in June 2021, Ryman began a formal strategic process to consider its options. Covid has altered the calculus for many live-event venues, which have finally returned to relatively normal operations after two years marked by significant interruptions and a slowdown in travel and leisure spending.
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