MIAMI, FL (CelebrityAccess MediaWire) — The Fillmore, former home of the Jackie Gleason Show, may be in trouble as the venue’s current operator, Live Nation, may not be keen on renewing their contract due to significant financial loss in running the Miami Beach venue.
Financials submitted Wednesday, show that by running the Fillmore, Live Nation lost $700,000 in 2009 and is projected to lose another $600,000 in 2010. If the projection proves accurate, Live Nation will have lost $2 million in less than four years, in addition to the $3.5 million it spent renovating the facility before its 2007 reopening according to The Miami Herald.
While locals and various elected officials oppose the idea of knocking down the venue where Gleason filmed his variety show, Live Nations losses may factor into a proposal by the city to demolish The Fillmore and construct a hotel in its place to serve the city’s nearby convention center.
Regardless of what happens — the plan must be approved by the city commission and county commission and receive funding — any construction would likely be years away according to The Miami Herald.
Under the Fillmore’s current Live Nation agreement, the city benefits with just over $1 million each year according to The Miami Herald. However, if Live Nation declines a five-year renewal option when its current contract expires in 2017, the city may be faced with the financial burdens it took on before the agreement, which according to City Manager Jorge Gonzalez, were more than $2.5 million annually. –by CelebrityAccess Staff Writers
