Startling news! Toronto’s Livent head, Garth Drabinsky, has sold control to U.S. mega-powers like Michael Ovits of California who becomes chairman of the executive committee, and Roy Furman of New York who becomes Chairman and Chief Executive Officer, while Drabinsky steps down as Vice Chairman and Chief creative director.

The show business community in New York, Los Angeles, Chicago, and Toronto was buzzing like a swarm of killer bees trying to figure out what was happening and what it really meant.

It was no secret that Livent was in debt more than $160 million.

Livent had successfully mounted many productions, starting with “Phantom of the Opera” still playing in Livent’s Toronto theatre, Pantages, and now in its ninth year.

Livent also originated “Kiss of the Spider Woman” in Toronto and then sent it on to London, New York and on a road tour. And, even though it garnered a number of Tony Awards, it never did make money.

Livent then won the bid to manage the new North York Centre for the Performing Arts, which was later renamed the Ford Centre for the Performing Arts. This new venue opened the revival production of “Show Boat” which went to New York where it garnered more Tony Awards before going on the road with three touring companies, one of which opened the second Ford Centre in Vancouver.

Livent also produced “Sunset Boulevard” with Diahann Carroll and Rex Smith and it too played Vancouver’s Ford Centre. This production also lost a lot of money. But their production of “Joseph and the Amazing Technicolor Dreamcoat” starring Donny Osmond was on the road for four years, including four engagements at different theatres in Toronto. A real money maker.

Their production of “Aspects of Love” which opened in Toronto was not a major success nor was their production of “Candide” But “Barrymore” was a big success in Canada’s Stratford Festival and Christopher Plummer won a Tony for his portrayal of Barrymore.

Drabinsky then opened his new show, “Ragtime” in Toronto and it garnered rave reviews from all the critics here, most of the Broadway ones and others from all around North America and England. A second company opened in Los Angeles, again to rave reviews but poor business. Livent then opened “Ragtime” at their third Ford Centre of the Performing Arts on Broadway’s famed 42nd Street, where it earned rave reviews from all but two of New York Critics and was recently nominated for 13 Tony Award. Another “Ragtime” company just opened in Washington and still another company will open Livent’s fourth Ford Centre for the Performing Arts in Chicago’s Oriental Theatre in October.

Rumours are rampant that the head office of Livent may be moved to New York, although everyone seems to be sure that productions will continue to be mounted in Toronto to take advantage of the $1.42 Canadian every $1 U.S and the renowned expertise of Toronto’s stage technicians, costumers, set builders and others.

In the meantime, Livent will open its newest production, “Fosse” a tribute to Bob Fosse, very soon. Not much has been heard of the plans to mount another new musical. “Parade” which has been work shopped and cast, or of other ventures such as new productions of “Pal Joey” and “Sweet Smell of Success.” We will bring this report up to date with our next column. And we’ll report on the new Stratford Festival and Shaw Festival Seasons, as well as the week-long Banff Television Festival in the Canadian Rockies from June 7 to 14.

“Legends in Concert” is opening a new Legends Theatre in Toronto starting June 25. We’ll also report on that in the next column.

Frank Sinatra’s passing has created world wide mourning for one of the most popular entertainers the world has ever known. We worked with Sinatra on six different occasions and got to know him even better while managing Tony Bennet and socializing with Sinatra during their mutual Las Vegas gigs. More on this top topic too, in the next column.