Description
The Really Useful Group Ltd. (RUG) is an international company set up in 1977 by Andrew Lloyd Webber. It is involved in theatre, film, television, video and concert productions, merchandising, magazine publishing, records and music publishing. The name is inspired by a phrase from the children's book series The Railway Series (which also inspired Webber to create Starlight Express) in which Thomas the Tank Engine and other locomotives are referred to as "Really Useful Engines".
History
The company was set up in 1977 when Lloyd Webber, frustrated with the terms of his contract with the impresario Robert Stigwood, decided to take greater control over the management of his creative works. All Lloyd Webber compositions and productions created from that point have been owned by the company.
The Really Useful Group was floated on the stock market in 1986. Four years later, Lloyd Webber took it back into private ownership, selling 30% to film and music group PolyGram to fund the cost of buying back shares. In 1995, PolyGram was bought by Canadian conglomerate Seagram, with the Really Useful stake being passed to its own film and music subsidiary, Universal. In 1999, Lloyd Webber paid $75m for Universal's 30% stake, giving the composer 100% ownership of the group.
