The Paramount is a staple of the Long Island entertainment industry. Now it hopes to continue that legacy — but under new ownership by Live Nation.
After 13 years as a small business, full ownership of the venue will be transfered to entertainment giant Live Nation. The venue’s main stage and the VIP Founders Room, as well as the Spotlight Bar and Ella’s restaurant, both located immediately adjacent to the theatre, will be transferring ownership. However, the venue’s staff will be retained.
“The Paramount has been and will continue to be a world famous venue bringing top performers to Huntington,” said Huntington Supervisor Ed Smythe. “(The venue) is fully invested in the local community, opening its doors to countless worthy causes. It is the model for other venues that look to make a mark on the world stage while supporting their local community.”
The Huntington stage was originally founded in 2011 by partners Dominick Catoggio, Jim Condron, Brian Doyle, and Stephen Ubertini. It quickly rose to the top of the entertainment scene, featuring acts like Billy Joel, Ed Sheeran, Pitbull, Willie Nelson, Snoop Dog, Elvis Costello, Steely Dan, Lauryn Hill, Kevin James, Sebastian Maniscalco and so many more.
Live Nation had been the venue’s booking partner, and had a hand in bringing those big names to the Huntington stage. Now, small business’ partners announced, the venue will be sold entirely to the company.
“They recognize and appreciate the outstanding work our staff has put into creating this vibrant venue and Live Nation has committed to retaining and employing them as we move forward, while also bringing industry-leading benefits to the venue and the unique On The Road Again program which supports developing artists,” the founding partners of The Paramount said in a statement to the Press.
“We’re excited for this next chapter for The Paramount and all the incredible entertainment that will continue coming through Huntington.”
“This strategic transaction ensures that The Paramount’s mission of delivering top-notch live entertainment to its loyal patrons will continue to thrive under the new ownership,” they added.
Live Nation’s aquisition of the Long Island staple comes hot on the heels of other purchases. Bell House and the Brooklyn Paramount are two other small businesses the entertainment corporation has taken over within the past year.
The corporation and its subsidary, Ticketmaster, was sued by the U.S. Justice Department earlier this year for allegedly being a monopoly that “thwarts competition in markets across the entertainment industry.” The lawsuit is ongoing.
To see what’s coming next to the venue, visit ParamountNY.com.
