Famed Ziegfeld Theater, Where INTO THE WOODS, RENT & More Movie Musicals Premiered, Facing Closure

New York's landmark Ziegfeld Theater, the city's prime spot for major film premieres, is in danger of closing its door.

According to The Hollywood Reporter, the single-screen theater, where movie musicals RENT, INTO THE WOODS, NINE, the 2014 remake of ANNIE, and many more first premiered, is failing to bring in enough to money to remain open. Per the report, "operators have grown frustrated with the money-losing moviehouse and seek someone to take over the lease."

The theater is currently New York's largest theater, housing 1,131 seats. It commonly operates at 5 percent capacity when a Hollywood premiere hasn't been booked.

James Dolan, CEO of Cablevision, which currently runs the Ziegfeld, confirmed a closure is likely in a new interview with THR: "Yeah. Probably," he said. "It loses a lot of money. The theater business is a tough business."

In a statement released today, Cablevision disputed the claims, stating that "the situation has changed and the Ziegfeld will remain open for the foreseeable future." THR asserts that "the search is on for someone to take over the three years remaining on Cablevision's lease on the property."

Should it close, the possibility remains that the Ziegfeld could be reopened and used for film premieres.

Located at 141 West 54th Street in Manhattan, the Ziegfeld Theater opened in 1969 and was named after the original Ziegfeld Theatre which was was demolished in 1966.

Photo by Ben Strothmann