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DENVER-Kroenke Sports Enterprises, the owner of the Pepsi Center and the teams that play there, is buying a competitor, the historic Paramount Theatre in the heart of the Central Business District. Kroenke Sports, owner of the Denver Nuggets and the Colorado Avalanche, recently opened a 5,000-seat outdoor theater in the parking lot of the Pepsi Center called Universal Lending CityLights Pavilion.

Both CityLights and Paramount book concerts.

Kroenke Sports is partners with Clear Channel Entertainment for bookings, while the Paramount, owned by local entrepreneur Randy Ship, is booked by the House of Blues. Clear Channel and HOB are fierce rivals.

Barry Fey of HOB tells GlobeSt.com that if Kroenke Sports buys Paramount, it will have to honor the contract that runs for at least another three years.

Fey also thinks if Kroenke Sports buys the Paramount, it will close CityLights.

David Ehrlich, executive vice president of Kroenke Sports, has no comment on the HOB contract at the Paramount, but says if they do make a deal, they will keep the Paramount and CityLights open.

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