House of Blues Explores Sale of Concert Unit
House of Blues Entertainment said it had retained investment bank UBS Securities to advise it in the potential sale of its concert unit.
House of Blues Concerts Inc. was formed after the company acquired Universal Concerts from Seagram Co. in 1999, and has since had a tough time competing against bigger rivals such as Clear Channel Entertainment.
This year, the unit announced a $110-million recapitalization. House of Blues Concerts owns, operates and books 20 arenas and amphitheaters in such cities as Los Angeles, San Diego, Denver, Dallas and Seattle.
James Bates
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