Stephen Enters the Arena

Arena Management, leaseholder and venue manager of Sydney's famous Capitol Theatre through its company Capitol Investments Pty Ltd, has welcomed Stephen Found as a significant shareholder in the company.

The transaction brings together two leading Australian entertainment industry specialists to ensure even greater success for the iconic Theatre in the future. The Capitol is owned by the City of Sydney Council and assigned a 99-year lease to Capitol Investments in 1996.

Under the new structure of Capitol Investments, Michael and Kevin Jacobsen will remain Directors of the Capitol Theatre. Stephen Found becomes a Director and will also appoint another Director to the Board.

Chief Executive and Executive Chairman Michael Jacobsen stated "for many years, Stephen has been a valued friend and industry colleague. We are delighted to have his involvement and 30 years of industry experience with us at the Capitol."

Jacobsen added that the initiative was taken to free up capital for Arena Management to be better positioned for future investments in new, exciting entertainment initiatives.

Stephen Found co-founded the Bytecraft group of companies in 1984 and is regarded as an entertainment industry leader with vast experience both domestically and internationally within the entertainment industry.

Found is the Managing Director of Bytecraft Entertainment, Australia's largest integrated lighting and LED screen company with prominent works including the Opening and Closing Ceremonies covering Olympics, the Commonwealth Games, Asian Games and many major musicals and theatre fitouts both locally and internationally.