Live Nation Acquires Long Island Venue The Paramount

Huntington, New York’s The Paramount has been acquired by Live Nation, as reported by The Long Islander. The Long Island venue’s co-founding partners Dominick Catoggio, Jim Condron, Brian Doyle and Stephen Ubertini confirmed the sale to the entertainment company this week.

The partners acquired what was then the IMAC Theater — the former venue occupying the historic space built in the 1920s — at the dawn of the last decade. The new stewards grew The Paramount into the No. 1 grossing venue in the world, according to industry rankings by Pollstar reported by The Long Islander.

“We are thrilled that The Paramount will continue its great legacy with Live Nation now overseeing the venue,” the Paramount partners stated. “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. This strategic transaction ensures that The Paramount’s mission of delivering top-notch live entertainment to its loyal patrons will continue to thrive under the new ownership.”

The deal is set to close in three months and as Live Nation were longtime partners of The Paramount, the transition is expected to be smooth with Live Nation retaining the staff, according to the partners.

“Live Nation recognizes and appreciates the outstanding work our staff has put into creating this vibrant venue and is committed to retaining and employing them as we move forward.”

Live Nation is expected to bring “industry-leading benefits to the venue, including [Willie Nelson’s] unique ‘On The Road Again’ program which supports developing artists,” the partners added. “We’re excited for this next chapter for The Paramount and all the incredible entertainment that will continue coming through Huntington.”

Check out The Paramount’s upcoming events below: