MSG Takes Over Beacon

MSG Entertainment announced November 15th it has taken over the 2,800-seat Beacon Theatre in Manhattan with plans to invest $10 million to renovate and restore the building.

The move gives MSG, a subsidiary of Cablevision Systems, another historic venue alongside Madison Square Garden and Radio City Music Hall.

“MSG Entertainment’s iconic assets and outstanding relationships in live entertainment uniquely positions us within the industry,” MSG president Jay Marciano said in a statement. “Our acquisition of the Beacon Theatre will round out our venue offerings to artists and touring shows, allowing us to help agents and managers groom new artists that require various room capacities as they grow their fan base and provide an ideal location for those legendary artists that want to play an intimate and historic theatre.”

The Art Deco-style theatre, built in 1928, has been hosting about 70 concerts a year as well as family shows and other events. Under MSG’s management, the facility is slated to host more than 100 events next year.

The landmark theatre is slated to close in 2008 for a seven to nine-month renovation.