LONDON, Nov. 5 (UPI) -- British composer Lord Andrew Lloyd-Webber is buying out his partners to become sole owner of several historic London theaters, it was reported Saturday.
The composer of "Cats" and "The Phantom of the Opera" is buying out his partners in the equity group Bridgepoint for an undisclosed sum, the BBC reported.
Lloyd-Webber, 57, will assume total control of the London Palladium, Theatre Royal, the Palace Theatre, the Gielgud Theatre, the Cambridge Theatre, the New London Theatre and Drury Lane as of Nov. 30. He will be co-owner of the Adelphi Theatre as well.
He said he plans on refurbishing the buildings during the next five years.
"Musical theater has been my life-long passion and I am overjoyed to have secured the ownership of these wonderful buildings for future generations of theatergoers," Lloyd-Webber said.