SMG Managing Saenger

SMG has inked a three-year contract to manage the historic Saenger Theatre in Mobile, Ala.

Photo: facebook.com/MobileSaenger

According to the terms of the performance-based deal, SMG will reduce the venue’s operating losses by at least $200,000 by October 2014 – or receive no compensation, according to the Press-Register.

The city will also apparently have the option to terminate the agreement if the losses are not reduced by the deadline.

Huka Entertainment will book events at the Saenger under a non-exclusive deal, the paper said.