GETTING HIS FAIR SCHER

Veteran music player John Scher is in advanced discussions to sell at least 50% of his Metropolitan organization, but he is taking his time to find the "right home" for the multi-tiered company.

Outside sources said House of Blues is among the three highly interested parties; Scher however, declined to confirm speculation as to the identities of the suitors.

"Clearly, the 50% of the company that Ogden owns is in play. They've sold most of the company already and want to get out of entertainment," the loquacious Scher recently told HITS. "We've had a lot of discussions with a lot of people. We've narrowed the field to three companies, and we should conclude before the end of the summer."

Scher points to the consolidation of the business and a chance to grow the company as the main reasons he's looking to sell. "The live end has been consolidated by SFX and House of Blues," he said. "I learned a long time ago, when I sold to PolyGram, in order to grow, we need the right strategic partner with the right strategic parent company."

Having started in the live music world, Scher has transformed his company into a multidimensional unit, with all areas interrelated and feeding off each other. The concert business, currently the third largest in the world, continues to operate at full steam, with two large amphitheaters, two mid-level venues and plans to break ground on two more large-scale houses this summer. "We have an aggressive and clear strategic plan, where we've earmarked four additional mid-to-large-size amphitheaters in the near future."

Metropolitan is also involved in the touring business, management, TV production, theater and the independent record business with the label Hybrid Recordings.

"We were a player in the touring business with The Grateful Dead before people even recognized that there was a touring business. In television, we've positioned ourselves as a premier music event producer; in theater we are developing shows around contemporary themes. We have three musicals in the works—Ray Davies' autobiographical show, "The Life Story of The Four Seasons" and Pete Townshend's "Psycho Derelict," Scher said. "In management, we represent such Gold and Platinum acts as Rusted Root, Vertical Horizon and Art Garfunkel, among others, and our label, Hybrid, is home to Guster and newcomer Sherri Jackson."

Using all the resources the company has developed with its concert business, Scher and his team have been able to expand into a half-dozen other ventures.

"We believe that these businesses mesh together well, and at the center of them all is the live performance," he said. "We grew the company based on opportunities that were available to us, which is the way the senior people wanted to grow the company."

Selling the company does not mean Scher will be leaving the business. He intends to stay on and stay involved. "I want to keep this great team together and expand. It's a terrific time right now."