2008 Hampton Social concert series at The Ross School cancelled
Posted by jroxx on March 28, 2008
NY Post Page Six reported today HAMPTONITES will have to find other forms of musical entertainment this summer. The popular Hampton Social concert series, which featured Prince, Dave Matthews, Billy Joel, Tom Petty and James Taylor at the Ross School in East Hampton, will not run this year. Warner Music Group, which bought Bulldog Entertainment, the Joe Meli-owned firm that created the concerts, for $6 million, lost $18 million on the deal, an insider said. “Warner was planning to take the high-end concert idea to Aspen, Dubai and Monaco but couldn’t sell tickets. The rich people they are targeting all have connections to get tickets for free, so no one was buying.”
March 28, 2008 at 3:09 pm
Any person in a company like Warner Music in todays environment that does a deal like this fiasco should be put in jail for using shareholder money.
And to pay this guy $6,000,000????? Someone got something and the shareholders got the shaft
March 28, 2008 at 10:27 pm
One should consider the fact that Courtney Sale Ross, founder of the Ross School (which hosted the Hampton Social series and was the charitable beneficiary of the venture), is the widow of Steven J. Ross, former mogul/chair of Time-Warner…Courtney Ross (even 16 years afterher husband’s death) retains significant ties to many Warner biggies….Warner should have foregone the whole Bulldog investment and simply given the Ross School a $5 million cash donation—if they’d done so, Warner would be $13 million better off….