They’re going to sell off the Grand Ole Opry!
OK… not really, but the Real Estate Investment Trust, Ryman Hospitality Properties, which controls the Opry Entertainment Group, owners of the Opry, the Ryman Auditorium, WSM Radio, and other properties in Nashville, has contracted with Morgan Stanley & Co to examine the possibility of selling its 70% share in the companies.
With such a large majority share in the offing, the price tag is thought to be in the one to one-and-a-half billion dollar range, so check your retirement funds to see if you might be in the running to own some of the most valuable commodities in the country and bluegrass music world.
The REIT isn’t directly saying that their shares are for sale, but is definitely sending out feelers that it is open to selling or exchanging them.
New ownership could have a major impact on tourism in Nashville, and the legacy of such long established brands. One never knows if such a change would be for good or ill, or if the possible sale reflects strength or weakness in this sector.
We will keep an eye on this, and report what we can find as the process plays out.
