Irving Azoff is ready to unveil his next big act: a $300 million entertainment business backed by long-time pal and Madison Square Garden boss James Dolan.
Azoff, who exited as executive chairman of concert promoter Live Nation at the end of last year, has spent the past eight months readying the launch of Azoff MSG Entertainment.
The wide-ranging venture will include: Azoff’s own music management firm; a music publishing unit; a TV production and live-event arm, and a social-media component, dubbed DBA, that connects bloggers with brands.
“This partnership will be part of MSG branching out beyond bricks and mortar,” Dolan told The Post. “I see it as a huge new growth opportunity for MSG. We’re entering a new phase in the company’s life.”
An MSG subsidiary will invest $125 million for a 50 percent interest in Azoff’s new venture, alongside a $50 million revolving credit loan. Aryeh Bourkoff’s LionTree Advisors represented MSG.