MEMPHIS, TN (abc24.com) - The City of Memphis is taking control of the Beale Street entertainment district. A judge ruled Tuesday the company that has run Beale for 30 years, Performa Entertainment, can walk away from the deal.
The city owns four blocks of Beale, but the Beale Street Development Corporation holds the lease and Performa has run the day-to-day operations.
When Performa filed for bankruptcy a couple of years ago, Performa turned its lease over to the city - a move that the Beale Street Development Corporation fought.
Tuesday's ruling allows the city to regain control of Beale Street, and move forward with plans to further develop it.
