Really Useful sale 'could be pulled'
Andrew Lloyd-Webber could abandon the planned sale of his entertainment business, which holds the rights to shows including The Phantom of the Opera, it was reported today.
The music impresario had been due to examine offers for his Really Useful Group next month, in a move believed to value it at up to £500m (€749.9m).
Lloyd-Webber is said to have told colleagues he may choose not to accept offers and instead run the firm in its present form, according to the Financial Times.
The Really Useful Group (RUG) was founded in 1977 by the composer and is involved in theatre, film, television, video and concert productions, merchandising, magazine publishing, records and music publishing.
It is thought finance firm Ingenious, which is handling the potential sale, is also looking at the possibility of selling its theatre division, which owns and manages 12 London theatres including The London Palladium.
Nobody from RUG was available to comment today.
BBC chairman Michael Grade is believed to be involved in a consortium ready to offer £290m (€434.9m) for the firm. The Royal Bank of Scotland and Barclays are said to be underwriting the bid.
Lloyd-Webber has composed shows including Joseph and the Amazing Technicolor Dreamcoat, Jesus Christ Superstar, Cats, Starlight Express, The Phantom of the Opera, Whistle Down the Wind and The Woman in White.
Last year, he completed the film version of The Phantom of the Opera directed by Joel Schumacher.
He started looking at the possibility of an auction process at the start of the year after he was told he could sell the rights to shows.
