ATG Expected to Buy Broadway's Foxwoods Theater, Home of SPIDER-MAN, for $70 Million

According to The Telegraph, Broadway's Foxwoods Theater could soon be purchased by the UK-based Ambassador Theater Group, which owns around 40 theaters across the pond. Spider-Man: Turn Off the Dark currently runs at the Foxwoods.

Read the original report here.

ATG is expected to offer Live Nation between $60 and $70 million for the venue, which would be its first house in the U.S.

This purchase is said to be a precursor to ATG's impending expansion across North America and overseas, including countries such as Australia and China.

ATG owns UK theaters such as the Donmar Warehouse, the Savoy Theatre, Brighton's Theatre Royal and Manchester Opera House, among others. ATG also bought all 16 of Live Nation's UK theaters in 2009 for 90 million pounds.

SPIDER-MAN Turn Off The Dark features music and lyrics by 22-time Grammy Award-winners Bono and The Edge and a book co-written by Julie Taymor, Glen Berger and Roberto Aguirre-Sacasa, with direction by Ms. Taymor and additional direction by Philip William McKinley. Scenic Designer George Tsypin and Costume Designer Eiko Ishioka are winners of Outer Critics Circle Awards and were nominated for Tony Awards for their work on Spider-Man Turn Off the Dark.