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Andrew LLoyd Webber becomes sole owner of a number of London theatres
It is reported that Andrew LLoyd Webber is to become sole owner of a number of London theatres.
He has co-owned the West End venues The London Palladium; Her Majesty's, Drury Lane; Palace Theatre; the Gielgud Theatre; the Cambridge Theatre and the New London theatre with equity group Bridgepoint since 2000, but he has now agreed to buy out his partners for an undisclosed sum.
LLoyd Webber also announced a £10m refurbishment programme for the buildings over the next five years.
He will continue to co-own the Adelphi Theatre with Nederlander.
Andrew Lloyd-Webber said: "Musical theatre has been my life-long passion and I am overjoyed to have secured the ownership of these wonderful buildings for future generations of theatregoers. "The West End theatre plays a vital role in London's life and I am totally committed to its future. I have pledged £10m for the renovation and refurbishment of my theatres over the next five years. "I am extremely proud to own such magnificent buildings."