Local concert promoter and Marquee Theatre owner Tom LaPenna denies bankruptcy rumors
By Niki D’Andrea
There have been some rumors going around that Tom LaPenna, owner of both the Marquee Theatre on Mill Avenue and prominent promotion company Lucky Man Concerts, is filing Chapter 7 bankruptcy and being bought out by media megagiant Clear Channel. But according to LaPenna, that’s not true. “That’s just a rumor,” he says.
LaPenna says that he has been approached by Clear Channel about a possible buy-out, but that he hasn’t made a decision on any proposals and isn’t ready to discuss any future deals. But he insists that Lucky Man isn’t in any financial danger. “Everything’s going good. We’ve got a great lineup this fall, and we’re doing Edgefest,” LaPenna says. “They have contacted me about selling, but that’s not something I’m ready to discuss at this time. It has nothing to do with me filing anything negative. In fact, it would be a business advantage for me. Lucky Man is doing just fine.”
We’re glad to hear that, because Lucky Man Concerts is the biggest homegrown promoter in the Valley, and we’d hate to see it swallowed and homogenized by a national corporation that already owns 900 radio stations and rakes in around 6 billion dollars a year in revenue. And since LaPenna says Lucky Man remains a very lucrative business, a Clear Channel buy-out wouldn’t be a bail-out. Let’s hope he ultimately resolves to keep Lucky Man local.
Get the Music Newsletter
Keep your thumb on the local music scene each week with music news, trends, artist interviews and concert listings. We'll also send you special ticket offers and music deals.
More Music News
- 9 Best Concerts in Phoenix This Weekend
Fri., Dec. 4, 8:00pm
Sat., Dec. 5, 8:00pm
Sun., Dec. 6, 3:00pm
Sun., Dec. 6, 7:30pm
- Cave Creek's Legendary Buffalo Chip Saloon Destroyed by "Suspicious" Fire
- 16 Places to Drink on Thanksgiving in Phoenix