Broadway's biggest theater sold to British group - WAOW - Newsline 9, Wausau News, Weather, Sports

Broadway's biggest theater sold to British group

Posted:
NEW YORK (AP) -

Britain's biggest theater group has reached across the Atlantic Ocean and bought Broadway's biggest theater from Live Nation Entertainment for about $60 million.

Ambassador Theatre Group said Monday it has acquired The Foxwoods Theatre, the current home of "Spider-Man: Turn Off the Dark." The theater has about 2,000 seats.

The acquisition makes the Foxwoods the 40th venue now owned by the Ambassador Theatre Group. The group, which owns several central London theaters including the Savoy Theatre and Trafalgar Studios, bought Live Nation's UK theaters for $147 million in 2009.

In a statement, the company said it hoped to keep the "Spider-Man" musical at its 42nd Street home "for a very long time." The show is still regularly topping $1 million in revenue a week.

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