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Monday, July 11, 2011

CBGB for Sale

CBGB FOR SALE: After much internal squabbling over the assets, the Hilly Kristal estate has retained Streambank LLC to liquidate and auction off the assets of the CBGB OMFUG brand. The club closed in October 2006 when Kristal lost his lease, and the venue was taken over by fashion designer John Varvatos, who turned the famed Bowery venue which launched the punk scene into a retail outlet, while retaining many of its original artifacts. Kristal passed away in August, 2007, and his family has been fighting over the CBGB brand ever since. The assets include U.S. and foreign trademarks to the brand, a total of 14 Internet domain names and hundreds of video and audio recordings from the club. Potential business opportunities listed include franchising the club name, interactive media, theme restaurants and bars, apparel, a record label, satellite radio/cable TV channel, a Broadway musical, branding of instruments and toys and video games. (7/11a)

 
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