Wednesday, August 20, 2008

Olympia Entertainment partners with new entertainment promoter

According to a press release issued by TIX Corporation (Nasdaq:TIXC), a subsidiary known as Magic Arts & Entertainment announced its partnership and five-year agreement with Detroit-based Olympia Entertainment to present a Broadway series at the fabulous Fox Theatre in Detroit, Michigan.

This five-year agreement between the two companies also encompasses two other Olympia Entertainment-operated venues including: the Masonic Temple Theatre (4,000 seats) and The City Theatre (400 seats).

Magic Arts & Entertainment is headed by longtime-business partners Lee D. Marshall and Joe Marsh. In 2008, Magic Arts & Entertainment became part of Tix Corporation with Marshall and Marsh assuming the roles of Co-CEO of Tix Productions, a newly-formed subsidiary of Tix Corporation. The Magic office is run out of Cleveland, OH and Salt Lake City, UT.

Olympia Entertainment is one of the industry's most diverse sports and entertainment companies, owned by Detroit entrepreneurs Mike and Marian Ilitch. Headquartered in Detroit, Olympia Entertainment owns and operates Detroit's Fox Theatre, the intimate City Theatre, and also books and operates Masonic Temple Theatre, Joe Louis Arena, Comerica Park and "The Legendary" Cobo Arena. Other Ilitch-owned companies include: the Detroit Red Wings, the Detroit Tigers, Little Caesars Pizza, Blue Line Foodservice Distribution, Olympia Development, Little Caesars Pizza Kit Fundraising Program, Champion Foods, Uptown Entertainment, and a variety of venues within these entities. Additionally, Marian Ilitch is the owner of MotorCity Casino in Detroit. 2007 revenues for the Ilitch-owned companies totaled $1.8 billion.

A former executive producer at Olympia Entertainment (Gregory Young) and one of Marian Ilitch’s current casino gaming partner (Michael Malik) are involved in a $300 million federal fraud case brought by the Securities and Exchange Commission against entertainment promoters John P. "Jack" Utsick, Robert Yeager, Donna Yeager, Worldwide Entertainment, Inc., The Entertainment Group Fund, Inc., American Enterprises, Inc., and Entertainment Funds, Inc.

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