British composer Lord Lloyd Webber
is selling four of his theatre's in London's West End today to legendary Broadway producer Max Weitzenhoffer
for a staggering $19.8 million. Weitzenhoffer is desperate to become an important player in the British capital's theatreland and has already produced several hit shows there, including Some Girls
, starring fellow American David Schwimmer
. The Cats
creator's Really Useful Group will retain eight theatres - including the London Palladium and the Adelphi - while the Apollo, the Duchess, the Lyric and the Garrick all pass to Weitzenhoffer. Lloyd Webber says, "I have always been keenly aware of the responsibility that comes with ownership of such valuable national assets and throughout this process have taken great pains to persuade my partner, Bridgepoint Capital, that we must sell only to someone who understands the particular nature of theatre, and who will protect and preserve these very special buildings."