The CEO of the Sony Centre wants to buy the venue and make it profitable
An intriguing proposal has emerged from the city’s attempt to save money by off-loading one of its three theatres. Dan Brambilla, CEO of the Sony Centre for the Performing Arts, told the Toronto Star’s Martin Knelman that he submitted a plan to buy the theatre and have it breaking even within seven years (which would be a feat, considering the theatre currently requires about $1 million in city funds each year). Brambilla, working with a group of investors under the aegis of his not-for-profit group Stage by Stage, proposes a business plan that would see the theatre running more performances, particularly ones geared at multicultural audiences, and ramping up its event rentals and catering offerings. It could work, we suppose—provided there are enough people who want their weddings and bar mitzvahs at “Canada’s largest soft seat theatre.” [Toronto.com]
What a joke. Here is Brambilla and his staff including a catering company, costing the city a million dollars a year and this plan for him to run it on his own will create a profit?? Why are they not creating a profit now? Looks like his plan was to run it to the ground while running it for the city so he could then buy it for a penny. Once a Livent person, well ask Garth how that ends.
Surely the well respected Roy Thomson group, which have always been profitable and classy are the way to go.