'Huge bid' for Lloyd Webber's empire

An unnamed American bidder has offered Andrew Lloyd Webber "hundreds of millions of pounds" for his entire theatrical empire.

Lord Lloyd-Webber is considering selling the rights to all of his hit shows and bowing out of the industry he revolutionised.

The dramatic move was leaked to the Evening Standard after our revelation last night that the composer is contemplating a bid for four of his 11 West End theatres.

A close associate of Lord Lloyd-Webber said he received the offer last month and others could follow.

He has appointed entertainment dealmaker Patrick McKenna to secure the best possible price.

The source close to Lord Lloyd-Webber said: "Andrew is much more interested in the creative areas of his world than anything else. He doesn't want to be responsible for running businesses."

The news sent shockwaves through theatreland last night and employees at Lloyd Webber's Really Useful Group were unsure of their future. Chief executive William Taylor has said he will leave in June 2006.

A second source told the Standard: "This talk of selling the rights to his shows is a serious change of policy."