Shubert Organization Buying Off-Broadway's New World Stages?
According to the New York Times, the Shubert Organization, which owns almost half of Broadway's theatres, is in the process of making a deal to buy off-Broadway's New World Stages (34 West 50th St.). The theatre complex houses Avenue Q, Heathers, and more.
Stage Entertainment, currently owns the five-theatre venue. The European company brought musicals such as Rocky (which will close in August) to Broadway, and has likely suffered significant financial loss from the show's short run.
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NEW WORLD STAGES is the state-of-the-art theatrical complex just off of Times Square which has served as the home of Tony Award winning, Guinness Record setting, and Pulitzer Prize earning shows. The five stages are centered on a large common lobby and Gallery New World Stages, serviced by two bars, a coat check, bathroom facilities on each level and the Time Out New York Lounge. New World Stages is fully handicapped accessible. It is owned and operated by the internationally acclaimed entertainment group, Stage Entertainment.