LOS ANGELES (CelebrityAccess MediaWire) — Prometheus Global Media has reportedly sold a stake in Back Stage to a consortium of investors led by John Amato. Back Stage is a publisher of online and print resources aimed at people working in the performing arts with a strong focus on TV, film and theatre.
The company has a 50 year history of servicing the entertainment industry and reaches a potential audience of over 2 million entertainers and industry professionals. The company offers job listings, career building tools, and industry news; the company also hosts a trade show focused on educating performers.
The New York Post reports that the deal is worth $3 million and that Amato now holds a majority stake in his new company.
Amato will assume the role of CEO and Chairman at Back Stage. Prior to the Back Stage deal, Amato was the president and co-founder of Show Media, a major provider of taxi cab advertising in Manhattan, boosting the company's revenue from zilch to $15 million over the course of four years. – CelebrityAccess Staff Writers