The New Yorker’s parent takes over Joop van den Ende’s musical company
The musical company owned by Joop van den Ende, one of the brains behind the Big Brother reality tv format, has been taken over by American family-owned firm Advance Publications.
Advance is taking over the 40% of the shares in Stage Entertainment owned by Van den Ende as well as the 60% shareholding bought by venture capital group CVC in 2015.
Financial details were not disclosed. Van den Ende will remain on the books as an advisor and said the takeover is a ‘new milestone’ in the history of the company, which he founded in 1998.
Advance is a publisher of magazines, including Vanity Fair and The New Yorker, owns various newspapers and a large stake in the Discovery television channel.
As well as producing musicals, Stage Entertainment owns some 20 theatres in Europe. The company made net profit of €33m last year on sales of €500m.
Thank you for donating to DutchNews.nl.
We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.
Make a donation