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Dolphin Entertainment Buys Ownership Stake In Midnight Theatre For Undisclosed Sum

  • Dolphin Entertainment Inc (NASDAQ: DLPN) has taken an ownership position in the Midnight Theatre, a contemporary variety theater and restaurant experience in Manhattan. The financial terms of the transaction remain undisclosed.
  • The Midnight Theatre is in the final stages of construction and expects to open in Late Fall 2021 at the recently opened Manhattan West development.
  • The Midnight Theatre features the theatre itself; a separate pan-Asian restaurant, Hidden Leaf; and a ground-level café.
  • Dolphin will manage every aspect of publicity and marketing for the venue and facilitate talent and commercial relationships within the entertainment and culinary industries. 
  • Dolphin held $9.3 million in cash and equivalents as of June 30.
  • Price Action: DLPN shares traded higher by 2.65% at $13.19 on the last check Tuesday.

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