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PHILADELPHIA (CBS) — It’s the end of an era as a popular Philadelphia music venue has been sold. It was announced Wednesday that the Electric Factory was sold to concert promoter AEG.
The Electric Factory name with the Ben Franklin face as its logo will be retired and a new name will be announced soon. It has been temporarily named North Seventh but a contest is already up to rename the venue and the winner will get two tickets to every show through 2020.
“What a ride it’s been,” said Larry Magid, the head of Electric Factory and Electric Factory concerts. “We would like to thank the hundreds of thousands of fans who have attended the over 2,500 shows at Electric Factory from its original location at 22nd and Arch from 1968-1970 to its rebirth in 1995 at 7th and Willow. A special thanks to all the employees, old and new, that have worked at the Factory over the years and to the great acts who have graced our stage, it’s been our privilege to work with you.”
Artists like Bruce Springsteen, Jimi Hendrix, Bob Dylan, Prince, Lady Gaga, Radiohead, Adele, David Bowie, and many others graced the stage throughout the years.
“Lots of care and love went into the Factory. We always tried to keep ticket prices fair and reasonably priced while bringing in the best talent the music industry had to offer,” said Magid.