Lloyd Webber buys back theatres

Andrew Lloyd Webber is taking back full control of his theatre empire by buying out the venture capitalists who owned half of the business for the past five years.

And with total control over his fiefdom, he is set to press ahead with a five-year, £10m refurbishment of his eight theatres, which include the Grade I listed Theatre Royal, Drury Lane, and the London Palladium. (A ninth, the Gielgud, is leased from the impresario Sir Cameron Mackintosh.)

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