The 5,000-capacity venue was taken over by entertainment retailer HMV in 2010.
HMV chief Simon Fox said: “The Hammersmith Apollo is an iconic London venue and it has been a privilege to own it over the last three years.”
The venue opened in 1932 as the Gaumont Palace cinema, as part of a wider turnaround.
It is also the eponymous venue in the BBC stand-up comedy series Live at the Apollo.
Stage C is jointly owned by London’s indigO2 operator Ansco Music Club, a subsidiary of US company Anschutz Entertainment, and a subsidiary of Munich-based CTS Eventim.
The sale is conditional on banking approvals, shareholder approval and Stage C securing regulatory approvals.
With 252 stores in the UK, HMV said the sale allowed it to focus on its core retail business, while the proceeds from the disposal would be used to reduce the group’s outstanding debt.
Strange Random Concert Quote:
- HMV confirms £32m sale of Hammersmith Apollo, extends bank facility (991.typepad.com)
- London’s Hammersmith Apollo sold by HMV for £32m (digitalspy.co.uk)
- HMV to sell Hammersmith Apollo for £32m (guardian.co.uk)
- Hammersmith Apollo sold by HMV (business-sale.com)
- HMV sells Hammersmith Apollo for £32m (independent.co.uk)
- Hammersmith Apollo sold (newstalk.ie)
- STING – At Hammersmith Apollo (aowenldn.com)
- AEG is preferred bidder for HMV Live (business-sale.com)
- Sony heads suitors tuning in for HMV Live music bid (independent.co.uk)
Jason Njoku studied chemistry at university and would probably be working as a scientist had he not thought of a magic formula that he has translated into a huge success: Nigerian films plus online distribution equals big money.
It all started when he realised that his mother sometimes found it difficult to get the latest Nigerian “Nollywood” films in London and he reasoned that many other people around the world would be in the same boat.
The company that he put into motion in December 2010, Iroko Partners (formerly Nollywood Love), has become the largest distributor of Nigerian movies and music.
“We’re the first guys to actually legally reach out in Lagos to the production houses, the owners of the movies and negotiate and sign deals with these guys so they can finally get remunerated for their hard efforts,” Mr Njoku told the BBC’s series African Dream.
“Primarily, Nigeria’s movie distribution has been via DVD so we’ve basically created another way for them to make money. They’re very very happy about that.”
Fifty films a week
Nollywood is the second largest film industry in the world by volume and its estimated annual revenue is $590m (£364m).
The low-budget films, often involving love-triangles and/ or witchcraft, are hugely popular across the continent.
According to data from Iroko Partners, approximately 50 movies are produced each week and they cost $25,000-$70,000 to make.
Strange Random Film Quote:
Nobody will ever notice that. Film-making is not about the tiny details. It’s about the big picture. – Ed Wood
- Nigerian directors target bigscreen (variety.com)
- IrokoTV Raises $8 Million to Bring Nollywood to the World (pandodaily.com)
- Nollywood – New Kid on The Global Filmi Block (studiocityfilms.wordpress.com)
- Why This Nigerian Movie Mogul Ditched YouTube (pandodaily.com)
- What “Nollywood” Needs… (damilareogunleye.wordpress.com)
- The Rise of Nollywood: Creators, Entrepreneurs, and Pirates by Olufunmilayo Arewa :: SSRN (africaunchained.blogspot.com)
- Hollywood Could Learn a lot from Nollywood (byronmiller.typepad.com)
- FG commences disbursement of $200m entertainment fund (transformationwatch.com)
The government yesterday closed two tax avoidance schemes, to retrieve £500m of lost tax and safeguard payments of billions of pounds more tax in the future.
One of the outlawed schemes was a way of avoiding tax payments when a bank buys back its own debt. David Gauke, Exchequer Secretary to the Treasury, described this scheme as a transaction that a bank which has adopted the anti-tax-avoidance code “should never have adopted.”
The other outlawed scheme, exploiting provisions of regulations on Authorised Investment Funds, seeks to generate tax credits when tax has not been paid in the first place.
The measure taken to ensure tax is paid on debt repurchases or buybacks is highly unusual in having retrospective effect: it claws back tax already saved.
Strange Random Tax Quote:
“Next to being shot at and missed, nothing is really quite as satisfying as an income tax refund.” — F. J. Raymond, humorist
- Credit issues and tax evasion – Small business news roundup (simplybusiness.co.uk)
- Common Tax Scams to be Aware of and Avoid (taxdebthelp.com)
- New targets for tax inspectors (bbc.co.uk)
- HMRC taskforces target tax-dodging market traders and car salespeople (guardian.co.uk)
- New crackdown on offshore tax evasion (smh.com.au)
- Tax Evasion Crackdown Could Mean Big Losses For Swiss Banks (huffingtonpost.com)
- IRS Criminal Penalties – Tax Evasion, Filing False Tax Return, Not Filing (taxdebthelp.com)
- Capital gains, everyone else loses (thehindu.com)
- Richard Murphy Taxcast: are banks playing fair? (liberalconspiracy.org)
- Tax Crackdown on Teachers and eBay Traders (link4business.info)
- Income Tax Evasion Dynamics (paul.kedrosky.com)
- Tax Evasion Costing The World Trillions Of Dollars: Report (worldwright.wordpress.com)
- More Than $3 Trillion Annually Lost To Worldwide Tax Evasion (thinkprogress.org)
With all eyes turning to London for the royal wedding, the shops are full of William and Kate souvenirs. In fact it is thought we will spend over £200m on mementos of their big day. But buying royal wedding cups, tins and tea towels is not a new phenomenon. Robert Opie is the director of the Museum of Brands in London – and as he explains, companies have been cashing in on royal weddings for decades.
We’ve been having a lot of problems getting the video to work properly, so we have left it in the Vodpod player which is down the page on your right. If you can’t see the video, try clicking the button “Follow me on Vodpod” to see more videos. Sorry about that, looks like the BBC are being a bit restrictive …
Strange Random Souvenir Quote:
“Souvenirs are perishable; fortunately, memories are not” – Susan Spano
- Unique Souvenirs Sold in The Coming of Prince Williams-kate Middleton Royal Wedding (socyberty.com)
- Etsy Love: Royal Wedding Souvenirs (graceandivy.wordpress.com)
- Throne Up Bags: This is one “gaggy” gift for those sick of the “Royal Wedding.” (economy4abc.blogspot.com)
- Celebrate the royal wedding in style (interflora.co.uk)
- The wedding and the mood in Britain (theworld.org)
- God save us from the future Queen #royalwedding (burbleburble.wordpress.com)
- Forget tea towels. This royal wedding is all about sick bags and love sheaths (theglobeandmail.com)
- Orwell Reports on the Royal Wedding (kylesmithonline.com)
- Are you ready for the Royal Wedding? (englishinguiaintermedio.wordpress.com)