Report: Paramount Sold to Live Nation

The Paramount has been sold to Live Nation, according to the Long-Islander newspaper.

The downtown entertainment hub, owned by Dominick Catoggio, Jim Condron, Brian Doyle, and Stephen Ubertini. took over the former IMAC space on New York Avenue 13 years ago and has hosted thousands of shows since then, featuring top-ranked acts such as Billy Joel, comedian Kevin James, Ed Sheeran and many others.

The Long-Islander’s Peter Sloggatt quoted the founders as saying, ““We are thrilled that The Paramount will continue its great legacy with Live Nation now overseeing the venue,” the partners said in a statement. “Having been our booking partner for 13 years, Live Nation became the natural company to hand the torch to and bring the venue into its future.”

Included in the deal is the main stage venue and its VIP Founders Room, as well as Paramount’s Spotlight art bar and Ella’s restaurant, the weekly newspaper said.

Staff will be retained.

The paper said that Live Nation will also continue to bring “industry-leading benefits to the venue, in-cluding the unique On The Road Again program which supports developing artists,” they added. “We’re excited for this next chapter for The Paramount and all the incredible entertainment that will continue coming through Huntington.”

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