Bloomberg News On The 'SPIDER-MAN' Drama: 'I'm not panicking. Yet.'

Bloomberg News has a detailed article about 'SPIDER-MAN, Turn Off The Dark' that is a must read for theatre and financial buffs alike. The feature sheds a light on the budgetary and creative woes that are gripping the production as it tries to 'swing' to Broadway.

In Jeremy Gerard's commentary on Bloomberg he writes, 'When I phoned two key players in the fast-developing, $31 million spinning dreidel that is "Spider- Man: Turn Off the Dark" yesterday, they spoke the same words.

"I'm not panicking. Yet."

I thought that both of them, while insisting on anonymity, showed remarkable calm. Earlier this week HELLO Entertainment, one of the lead producers on the musical, announced that "the Broadway production of ‘Spider-Man: Turn Off the Dark' has been forced to suspend its activities" until "an unexpected cash flow problem" has been resolved. For the moment, the dreidel hasn't toppled over.

With its first performance only six months off and still no leading man cast in the most expensive show Broadway has ever seen, the two players had good reason to be on the verge of panic. Frankly, with that much money on the line, I'd probably have wigged out weeks ago.

The announcement went on to say that "the plans necessary for this correction are now in hand." Try depositing plans at the bank.' To read the full article click here.

The New York Post's Michael Riedel revealed in his column in the paper this week that 'SPIDER-MAN' looks to be in trouble concerning it's budget. Riedel reports on the production's current state, and you can read his updates by clicking here and here.

A statement was given to the Sunday The New York Times from the publicists for HELLO Entertainment, one of the producers of "SPIDER-MAN, Turn Off the Dark," saying work had been suspended on the musical because of "an unexpected cash flow problem." To read the Times article click here.

No date for resuming production work has been announced.

American Express pre-sales began on June 24th. Tickets range from $67.50 to $135, with $275 premium seating available. Tickets are available by calling Ticketmaster at (800) 745-3000. For more information click here. Individual tickets for the general public go on sale September 12th.

"SPIDER-MAN, Turn Off the Dark" will play at Broadway's Hilton Theatre, 213 West 42nd Street.

Directed by Tony Award-winner Julie Taymor with 22-time Grammy® Award-winning Bono and The Edge creating new music and lyrics, SPIDER-MAN will be written by Julie Taymor and Glen Berger. You can learn more about the musical by visiting the official "SPIDER-MAN, Turn Off the Dark" website, spidermanonbroadway.marvel.com. 

SPIDER-MAN is produced by HELLO Entertainment/David Garfinkle, Martin McCallum, Marvel Entertainment/David Maisel, Sony Pictures Entertainment, and Jeremiah Harris. SPIDER-MAN is produced in association with Omneity Entertainment/Richard Weinberg, the Mayerson/Gould/Hauser/Tysoe Group, Patricia Lambrecht and Jam Theatricals/S2BN Entertainment.

Drawing from over forty years of Marvel comic books for inspiration, SPIDER-MAN spins a new take on the mythic tale of a young man propelled from a modest rowhouse in Queens to the sky-scraping spire of the Chrysler Building, the bustling offices of the Daily Bugle, through the dizzying canyons of Manhattan, to new vistas never before seen. The musical follows the story of teenager Peter Parker, whose unremarkable life is turned upside-down-literally-when he's bitten by a genetically altered spider and wakes up the next morning clinging to his bedroom ceiling. This bullied science-geek-suddenly endowed with astonishing powers-soon learns, however, that with great power comes great responsibility as villains test not only his physical strength but also his strength of character. Spider-Man's battles will hurtle the audience through an origin story both recognizable and unexpected--yielding new characters as well as familiar faces--until a final surprising confrontation casts a startling new light on this hero's journey.

The principal creative and design team for SPIDER-MAN includes Daniel Ezralow, Choreographer (Across the Universe, The Green Bird); George Tsypin, Sets (The Magic Flute, The Little Mermaid); Eiko Ishioka, Costumes (Academy Award® for Bram Stoker's Dracula, Tony Award® nomination for M. Butterfly, the opening ceremonies for the Beijing Olympics); Donald Holder, Lighting (Tony® Awards for The Lion King, South Pacific); Jonathan Deans, Sound (Fosse, The Beatles LOVE by Cirque du Soleil, Young Frankenstein, Ragtime); and Teese Gohl, Musical Supervisor (Across the Universe, Frida). Additional members of the SPIDER-MAN creative team will be announced at a later date.