Entertainment: Poly Wants A Lloyd Webber

Poly Wants A Lloyd Webber

Really Useful Holdings has certainly proved useful to tunesmith Andrew Lloyd Webber. Last week he sold a 30% interest in his company to European record giant PolyGram for more than $130 million. The London-based creator of Cats, The Phantom of the Opera, Starlight Express and other theatrical sensations has been criticized for shallowness, but no one questions Lloyd Webber's status as a cash machine. For PolyGram, the investment in Really Useful is the latest step in an aggressive and costly drive to buy up independent entertainment companies, following the acquisition of A&M and Island Records. While the deal will give PolyGram...

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