PALM BEACH (CelebrityAccess MediaWire) — The sale of Fantasma to promoter-giant Live Nation was so quick and quietly-handled that many employees, including Jon Stoll's son who had been hoping to take over the firm, were taken by surprise.
According to the Palm Beach Post, 18 employees who were hard at work on three upcoming shows by Bruce Springsteen and Celine Dion learned about sale of the firm and the subsequent loss of their jobs from a report on PalmBeachPost.com.
"My dad was an independent kind of guy," 22-year-old Jesse Stoll, who was being groomed to take over the business told the Post "I think this sale would've been tough on my dad. And it's a loss to music fans everywhere."
"Jon would have gone nuts if he knew." former Fantasma employee Carrie Swett noted, while cleaning out her office.
The deal was brokered by Stoll's widow, Palm Beach Philanthropist Lori Stoll. The Post reported that she sold the company and released all of the employees on Friday before departing for Aspen.
"[It was] a deal we couldn't refuse." Lori Stoll reportedly said. She also revealed some of the other inducements offered by Live Nation, including a 5 year stint for her as a vice president of community relations as well as the expectation of a position for her son Jesse after he graduates from UM. Jon is probably looking down on us, smiling." Stoll added.
Still, one insider, familiar with the details of the sale stated that the money realized from the deal would not be enough to secure the Stoll's financial independence. "The only real value of that company was Jon Stoll's connections," the source told the Post "With him gone, the company wasn't worth much. They won't be rich by any stretch." – CelebrityAccess Staff Writers