The acquistion of event production/management firm TBA Entertainment Corp. by a company controlled by Irving Azoff, Robert Geddes and JHW Greentree Capital LP is complete.

The acquistion of event production/management firm TBA Entertainment Corp. by a company controlled by Irving Azoff, Robert Geddes and JHW Greentree Capital LP is complete.

As a result of the purchase, first tipped here in February, TBA becomes a privately held company. Former TBA stockholders will receive approximately $0.68 in cash for each share of TBA common stock and approximately $0.71 in cash for each share of TBA preferred stock.

TBA went public in February 1994, and its stock hit an all-time high of $9.50 that November. It closed yesterday (June 29) at 67 cents.

Azoff recently told Billboard that for he and his new partners, the proposed acquisition of TBA Entertainment could be just the beginning. "We're buying a bunch of stuff," Azoff said. "But we want to wait and let the smoke clear on this one first."

Veteran touring executive Geddes, who is based in L.A., assumes the post of CEO. Azoff and Mike Stone, managing partner of JHW Greentree and its Stamford, Conn.-based parent, Whitney & Co., are co-chairmen. Azoff continues as chairman of his Azoffmusic management company.

TBA produces concerts and entertainment for fairs, festivals and corporate events, as well as sponsor-driven happenings such as the Fruit of the Loom Country Fest and Hard Rock RockFest.
The company also boasts a thriving management division that handles such acts as Brooks & Dunn, 4Him, Billy Bob Thornton, CeCe Winans, Jaci Velasquez, Papa Roach, Styx, Tesla, Type O Negative, Sandi Patty and Chonda Pierce.

TBA will continue to operate its regional offices in Los Angeles, Nashville, Atlanta, Chicago, Salt Lake City and San Diego.

Azoff already manages the Eagles, Van Halen, Christina Aguilera, Jewel and Journey.

Whitney & Co. is an asset-management firm with more than $4 billion of capital under management.

Questions? Comments? Let us know: @billboardbiz

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