BBC News Online: Business: The Company File

Goldsmith stages comeback

Mr Goldsmith, whose credits include Live Aid and The Three Tenors, saw his entertainments business go into receivership after suffering heavy losses staging the poorly attended Eclipse Festival in Cornwall in August.

The music mogul has now set up a new company, Artiste Management Productions, to take over the operations of Harvey Goldsmith Entertainments.

Under the terms of the deal, Mr Goldsmith will continue to promote tours for Jools Holland, Black Sabbath and Sting.

He will also promote the Smash Hits Poll Winners Party later this year.

Harvey Goldsmith said: "I am delighted with the support I have had from all parts of the industry and in particular those artists who have confirmed their support in my new venture, Artiste Management Productions Ltd."

As well as the Eclipse festival flop, Mr Goldsmith's company ran into difficulties with a venture into the movie business with expensive "turkey" Lawnmower Man II costing him £5m.

Lee Manning, of receiver Buchler Phillips, which negotiated the rescue deal, said creditors would lose around £1m.

He said: "I am glad that he has the business going forward, I am sure he will do well.

"It has been a bad experience for many people including Harvey but after 30 years everybody gets a bit of bad luck."

He did not reveal the identities of Mr Goldsmith's new backers.

Relevant Stories

Harvey Goldsmith presented (30 Sep 99 | Entertainment)
Harvey Goldsmith calls in receivers (29 Sep 99 | The Company File)
Eclipse festival raps government (09 Aug 99 | Entertainment)

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