Old Electric Factory Renamed Franklin Music Hall

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PHILADELPHIA (CBS) -- The results are in and the old Electric Factory has a new name.

Franklin Music Hall was the winner of a naming contest, new owners The Bowery Presents announced Thursday.

The name beat out more than 5,000 submissions after The Bowery Presents acquired the venue in September.

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"We were thrilled to see such an outpouring of suggestions from the city's most passionate music lovers," said Bryan Dilworth, The Bowery Presents Philadelphia buyer and veteran of 24 years at the venue. "The new title was truly selected by fans, for fans, and honors the spirit of such an iconic Philadelphia music venue. We look forward to the Franklin Music Hall becoming a household name as the legacy of the venue continues to be written."

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Many submissions used Ben Franklin as inspiration for a new name, but just four entrants suggested the winning title. The winners will receive two complimentary tickets to every show at the venue through 2020.

All tickets sold under The Electric Factory and North Seventh names will be honored at the new Franklin Music Hall.