HMV Sell Hammersmith Apollo

American-German company buy iconic local venue

 
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The financially troubled HMV Group saw its share price rally today after announcing the sale of the Hammersmith Apollo for £32 million.

The group have only owned the Apollo since 2010 and the sale will go some way to relieving pressure on its balance sheet.

The 9,000 capacity venue has been sold to Stage C, American-German joint venture with corporate connections to the owners of the O2 arenas.

HMV chief Simon Fox has been quoted as saying "The Hammersmith Apollo is an iconic London venue and it has been a privilege to own it over the last three years."

The venue was originally a Gaumont Palace cinema and was built in 1932. It has hosted a large number of major acts including the Beatles and David Bowie.

June 1, 2012