Live Nation to buy Huntington's Paramount

The Paramount in Huntington is about to be acquired by concert conglomerate Live Nation. The four-way partnership of local residents Dominick Catoggio, Jim Condron, Brian Doyle and Stephen Ubertini have agreed to sell the popular venue on New York Avenue 13 years after its opening on Sept. 30, 2011.

Live Nation has worked in tandem with The Paramount on its bookings for many years.

"As we step back from operations, we are thrilled that The Paramount will continue its great legacy with Live Nation now overseeing the venue," said the owners in a released statement. "We’ve had a strong partnership with Live Nation for over 13 years, as they were our trusted booking partner and developed a deep understanding of Huntington and its rich artistic history."

The acquisition is set to conclude in 90 days and includes the Founder’s Room VIP lounge plus Spotlight art bar and Ella’s restaurant next door. The current Paramount staff will remain in place, according to the owners.

"They recognize and appreciate the outstanding work our staff has put into creating this vibrant venue and Live Nation has committed to retaining and employing them as we move forward, while also bringing industry-leading benefits to the venue and the unique ‘On The Road Again’ program which supports developing artists," the owners continued in the statement. "We’re excited for this next chapter for The Paramount and all the incredible entertainment that will continue coming through Huntington."

Over the past decade-plus, the theater has presented some of the biggest acts in music (Billy Joel, Rod Stewart, Don Henley, Joan Jett) and stand-up comedy (Sebastian Maniscalco, Jim Gaffigan, Kevin Hart, Bill Burr). The Paramount was ranked the No. 1 Club Venue worldwide in Pollstar Magazine at the end of 2022.

"The Paramount has been and will continue to be a world famous venue bringing top performers to Huntington," Huntington Town Supervisor Ed Smyth said in a statement. "The Paramount is fully invested in the local community, opening its doors to countless worthy causes. It is the model for other venues that look to make a mark on the world stage while supporting their local community. Huntington looks forward to continuing this great working relationship with Live Nation and the new management of the Paramount."

Originally the venue was known as the IMAC — Inter-Media Arts Center, an over 500-seat concert hall from 1983-2009 that featured such artists as Herbie Hancock, Philip Glass, Ani DiFranco, Richie Havens, Dr. John, Phoebe Snow and Keb’ Mo’. Because the building itself was more than a century old, the quartet of owners invested in excess of $5 million in a renovation. It once served as both a vaudeville house and movie theater before IMAC’s existence.

Live Nation also owns and operates Flagstar at Westbury Music Fair and books shows for Northwell at Jones Beach Theater, which is owned and operated by New York State.

Lisbeth R. Barron, and her team at Barron International Group LLC, are acting as the exclusive financial adviser to The Paramount on the transaction.

By David J. Criblez

david.criblez@newsday.comDavidJCriblez

David J. Criblez is a reporter for Newsday's exploreLI, covering entertainment-related events from local music to stand-up comedy to festivals.