Metropolitan Entertainment has shuttered its doors today (December 9) after Mitch Slater sold the company to Clear Channel Entertainment for a reported $10 million – $12 million. Slater purchased ME from Covanta Energy Corp. eight months ago for $3.5 million, according to sources. Slater is said to have a five-year non-compete clause with CCE.
Of ME's 25 employees, four to six will be offered positions with Clear Channel, CCE spokesperson Howard Schacter told CelebrityAccess. Some of those retained will be in operational positions at various venues. CelebrityAccess has learned that those said to have been offered positions include senior VP Debra Rathwell, director of operations Wayne Goldberg, talent buyer Mark Shulman, Darien Lake PAC GM Peter O'Donnell and Donna Benedetto in touring.
Among the assets CCE has acquired is Darien Lake Performing Art Center in Darien Center, NY; Hammerstein Ballroom in New York; and presenting rights at Pier 6 in Baltimore, MD; the Scranton (PA) Cultural Center; New Jersey Performing Arts Center and the Morristown Community Theater.
According to sources, as late as the weekend just prior to the sale (December 6-8), the feeling was that AEG's Concerts West was going to be Metropolitan's new owner.
Slater is a partner with Robert Sillerman in FXM, so stay tuned for some news from that end.