Grand Ole Opry’s Future Uncertain as Owners Explore Major Sale

Thanks to stars like George Strait, Reba McEntire, Toby Keith, Garth Brooks, and countless others, country music is a global powerhouse in the music industry. But even with the genre expanding with Ella Langley, Morgan Wallen, and Lainey Wilson, the heart of country music will always be at the Grand Ole Opry. For any singer looking to make a name for themselves in country music, they know the significance of walking across that historic stage. But that legacy could soon enter a new chapter after the company behind the Grand Ole Opry announced it is exploring the sale of an ownership stake. 

Although change can be good, it doesn’t come without a great deal of scrutiny and criticism. Especially, when the product being sold is The Opry. With fans growing concerned over the potential sale, Colin Reed, the Executive Chairman of Ryman Hospitality Properties, released a statement explaining the decision to entertain buyers. 

“We are incredibly proud of our OEG (Opry Entertainment Group) business and of our role as stewards of these historic and iconic brands, which are deeply important to the country music community and the markets we serve. We remain focused on bringing artists and audiences together through iconic live entertainment experiences.” He continued, “We have previously shared our view that enabling OEG to operate outside of our REIT structure over time is important for its long-term growth trajectory, and we believe strategic partnerships can further support its growth.”

[RELATED: Remember When Trace Adkins Was Inducted Into the Grand Ole Opry in 2003?]

The Grand Ole Opry Not For Sale – For Now

The main word in Reed’s statement was “growth.” As country music welcomes new artists and blends genres, the Opry hoped to change with the times. “With the rise in global popularity of country music and the increasing demand for live experiences, we have received inbound interest from a range of organizations seeking to partner with our entertainment business. In that context, we have engaged Morgan Stanley & Co. LLC to assist in evaluating potential opportunities.” 

While open to the idea of a potential sale, Reed insisted that the announcement was more of a courtesy to country music fans. “The Company has not entered into any agreements, and there are no assurances that any transaction will occur.”

Currently owned by the Ryman Hospitality Properties, a change in ownership could mean fresh ideas. But at the same time, it was new ownership that crippled established franchises like Red Lobster, Sears, and Toys “R” Us. 

Still, with no agreement in place, the Grand Ole Opry’s future remains unchanged for now. Whether a deal ultimately happens or not, fans can do nothing but wait.

(Photo credit should read NEIL BRAKE/AFP via Getty Images)

The post Grand Ole Opry’s Future Uncertain as Owners Explore Major Sale appeared first on American Songwriter.