Grand Ole Opry might get new owner | Music City Minute

Country music's most sacred stage might have a new owner. This is a big one. According to a report from Bloomberg, Ryman Hospitality Properties is exploring the sale of its 70 percent stake in Opry Entertainment Group, the company that owns the Grand Ole Opry House and the Ryman Auditorium. They've hired Morgan Stanley to find a buyer, and this comes during the Opry's 100th anniversary year. The sale wouldn't just include those two iconic venues. Opry Entertainment Group also owns WSM Radio, the station that launched the Opry back in 1925, as well as Blake Shelton's Ole Red locations, Luke Combs' Category 10 bar in Nashville and ACL Live in Austin. The remaining 30 percent of OEG is already held by NBCUniversal and a private equity firm. Ryman Hospitality confirmed they're "evaluating potential opportunities," but stressed no agreements have been reached and there's no guarantee a deal will happen. Executive Chairman Colin Reed pointed to the rise in global popularity of country music as a reason for the timing. No matter what happens, this has Nashville paying very close attention. The Opry isn't just a venue. It's the heart of country music. And whoever ends up owning it will be holding something that can't be measured in dollars.

 

I'm Brailey, and that's your Music City Minute.