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The Largest Concert Company
The largest concert company in the U.S. (Clear Channel) will not buy the second largest (House of Blues) because of what is happening in San Diego, according to House of Blues CEO Greg Trojan. He said the soon-to-open San Diego House of Blues nightclub, which will operate alongside the larger HoB concert venues (which include Coors Amphitheater, Cox Arena, Open Air Amphitheater), will create new "synergies" between nightclubs and larger concert venues.
"We're going to open in [downtown] San Diego in May with a great amphitheater, a great history in the market...and we're going to add a club to that."
HoB Concerts said in December it would be for sale if the right offer came along. (The company did not have a good 2004.) Clear Channel's bid of $90 million was the highest, but HoB last week said it wasn't enough and passed.
In the first quarter of this year, House of Blues Concerts sold 960,000 concert tickets in the U.S.; Clear Channel sold over 3 million. Clear Channel Entertainment dominates the radio and concert businesses in most U.S. cities. San Diego is one of the few where HoB Concerts dominates. House of Blues made it clear that it was never considering selling its chain of nightclubs, only its concert division.
Here's something you might be interested in.
The Largest Concert Company
The Largest Concert Company
The largest concert company in the U.S. (Clear Channel) will not buy the second largest (House of Blues) because of what is happening in San Diego, according to House of Blues CEO Greg Trojan. He said the soon-to-open San Diego House of Blues nightclub, which will operate alongside the larger HoB concert venues (which include Coors Amphitheater, Cox Arena, Open Air Amphitheater), will create new "synergies" between nightclubs and larger concert venues.
"We're going to open in [downtown] San Diego in May with a great amphitheater, a great history in the market...and we're going to add a club to that."
HoB Concerts said in December it would be for sale if the right offer came along. (The company did not have a good 2004.) Clear Channel's bid of $90 million was the highest, but HoB last week said it wasn't enough and passed.
In the first quarter of this year, House of Blues Concerts sold 960,000 concert tickets in the U.S.; Clear Channel sold over 3 million. Clear Channel Entertainment dominates the radio and concert businesses in most U.S. cities. San Diego is one of the few where HoB Concerts dominates. House of Blues made it clear that it was never considering selling its chain of nightclubs, only its concert division.
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