Shubert Organization's Plans to Build New 45th Street Theatre Are No More

Currently, the Shubert Organization owns seventeen Broadway theatres in New York City, but for years rumors have circulated that they want to make it eighteen.

Now according to Variety, those plans to construct a new venue on 45th Street have been derailed. Shubert Organization president and co-CEO Robert E. Wankel told Variety: "It's not going to happen. It got too complicated."

"It was more the complexity of the development, which is in part a cost factor, but it was also just getting too difficult to incorporate the theater into the new building in a way that made it economically feasible," he continued. "It was an opportunity, but we just didn't think, in the end, it would work, much as we tried."

Click here to read the full article.

Current New York City theatres owned by the organization include the Ambassador, Bernard B. Jacobs, Barrymore, Little Shubert, Belasco, Booth, Lyceum, Broadhurst, Majestic, Broadway, Music Box, Cort, Gerald Schoenfeld, Shubert, Golden, Winter Garden and the Imperial.

The Shubert Organization is America's oldest professional theatre company. Over the last century, the company has owned hundreds of theatres and produced over five hundred plays and musicals. At the end of the 19th century, three brothers, Sam, Lee and Jacob J. Shubert, from Syracuse, New York, founded the business.