YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

Fee/Hedrick Family Entertainment Group founders David Fee, right, and Jim Hedrick purchased Branson’s former RFD-TV theater out of foreclosure for $3.2 million.
Fee/Hedrick Family Entertainment Group founders David Fee, right, and Jim Hedrick purchased Branson’s former RFD-TV theater out of foreclosure for $3.2 million.

Tennessee group buys Branson theater in foreclosure deal

Posted online
Branson’s RFD-TV theater is getting its fourth act. Following the departure of the nationally televised network and serving as home for a string of temporary acts, the Highway 76 theater fell into foreclosure and was purchased Monday by a Tennessee-based entertainment group. 

On the Taney County Courthouse steps, Chris Vinton, of Vinton Commercial Realty, represented Fee/Hedrick Family Entertainment Group in the purchase of the 2,000-seat theater on 8 acres of land for $3.2 million. According to Taney County assessor records, the 25-year-old property is valued at $2.2 million.

The theater fell into foreclosure “for default in the payment of debt and performance of obligations on a promissory note dated March 15, 2012, and secured by a deed of trust executed by RFD-TV The Theater LLC,” according to the published legal notice.

Attorney Kim Moore, of Perryville – who serves as general council for The Bank of Missouri – served the foreclosure notice on the property. When reached by phone this morning, he declined to disclose the foreclosure amount or any further details. 

Hailing from the entertainment town of Pigeon Forge, the building’s new owners already have plans in the work for its first Missouri property.

“We have several ideas of possible plans for our new theater, and we plan to meet with city officials to talk about all of the various possibilities,” said David Fee, president and CEO of Fee/Hedrick Family Entertainment Group, in a news release. “We believe in the Branson market and our long-term plan is to renovate the theater and have a presence in Branson for many years to come.”

In the short term, Fee said the company may rent out the theater until other plans are developed, noting the recent wildfires in the Smokey Mountains affected many of the company’s employees. According to the Associated Press, a massive wildfire swept through the Pigeon Forge and Gatlinburg, Tennessee, area over the weekend, destroying nearly 200 homes and businesses, claiming the lives of 13 people and injuring 134 others.

“This will possibly delay our long-term plans as our entire company is heavily involved in helping our employees and our community,” he said. “This purchase however, was an opportunity for our company’s growth which will definitely help all of our employees in the long run.”

According to the release, Fee and Jim Hedrick founded the Fee/Hedrick Family Entertainment Group 22 years ago after working 11 years as senior management for Carnival Cruise Lines. The group owns and produces a handful of shows in Pigeon Forge, including The Comedy Barn and The Smoky Mountain Opry.

The 4080 W. State Highway 76 property originally was built for Ray Stevens in 1991. He left the space in 2005 and Nashville, Tennessee-based RFD Communications Inc. purchased the acreage in 2006.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
Business Spotlight: The Right Focus

Helping people is the foremost purpose in business for Angela Stephens. The idea for Re-Focus the Creative Office was born to help her son, Drake Stephens, who had started struggling in school in fifth grade.

Most Read
Update cookies preferences