Tuesday, April 05, 2005
I Know, It's Henry's Company And He Can Sponsor If He Wants To
Universal Studios has sold naming rights to its Universal Amphitheatre concert venue to Gibson Guitar Corp. in a 10-year deal valued at more than $14 million, the companies announced Monday.
The naming rights agreement is part of a wider deal that includes putting the Gibson name in other parts of the park and in sales and marketing materials, the companies said.
Financial terms of the deal were not disclosed. But sources familiar with the agreement said it calls for Gibson to pay a little more than $1 million per year for a total of between $14 million and $15 million.
Gibson will get a new skybox in the arena, its name on employees' uniforms and branding on the Universal Studios backlot tram tour.
A Gibson Guitar Garden will also be built and be used to honor artists and host visitors.
Please tell me how this is going to increase sales when Henry's pissed off most, if not all of his high-end dealers.
Let's see, $200 price increase on a Les Paul standard, figure they only have to sell 70K of them to pay for this Geschaftvergnügen.....