Scher Buys Back Management, Label And Theatrical/TV Divisions From Covanta

John Scher, former president/CEO of Metropolitan Entertainment Group, acquired the company's management company, record label and theatrical/TV divisions from Covanta Energy for an undisclosed amount last Friday (October 26). Scher, who founded MEG more than 30 years ago, was replaced by Scott Mackin, president/CEO of Covanta Energy Corp., (formerly Ogden Corp.) this past August. Covanta purchased 50 percent of MEG in 1995 and still retains its concert division, now headed by Debra Rathwell and Keith Beccia.

Other changes at MEG include the departures of Jeff Rowland, who oversaw the company's theatrical, and TV divisions, and Michael Leone, who headed Hybrid Recordings.

Scher has a three-year non-compete clause with Covanta as a promoter/tour producer.

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