Broadway Theater Owner Jujamcyn Theaters to Merge With Ambassador Theatre Group
Jujamcyn Theaters, the owner of five Broadway theaters, will combine operations with International Entertainment Holdings Limited, the parent company of Ambassador Theatre Group.
Ambassador Theatre Group currently operates two Broadway houses, in addition to its larger footprint in Europe, where it has more than 50 venues across the U.K. and Germany. The financial terms of the deal were not disclosed.
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As the two companies merge, Jordan Roth, president of Jujamcyn Theatres, will sit on the board as the largest individual shareholder of the combined group and serve as creative director. Mark Cornell, chief executive of the Ambassador Theatre Group, will serve as CEO. Private Equity firm Providence Equity Partners is the largest shareholder of A.T.G.
Shaking up theater ownership on Broadway is rare. The two parties are among the smaller theater owners on Broadway, compared to the Shubert Organization, which owns 17 of the 41 Broadway theaters, and the Nederlander Organization, which owns nine. But combining forces will give a bigger footprint to Jujamcyn Theaters and notably to Ambassador Theatre Group, which had been looking to expand its Broadway presence after operating the Lyric Theatre, current home of Harry Potter and the Cursed Child, and acquiring the Hudson Theatre, current home to A Doll’s House, starring Jessica Chastain.
While it is a smaller Broadway organization, Jujamcyn, under Roth, has produced a series of award-winning and popular shows. The organization currently has The Book of Mormon, which has been running at its Eugene O’Neill Theater since 2011; 2021 best musical winner Moulin Rouge! at the
Al Hirschfeld Theatre; 2019 best musical winner Hadestown at the Walter Kerr Theatre; Funny Girl, now starring Lea Michele, at the August Wilson Theatre; and the upcoming New York, New York at the St. James Theatre.
Jujamcyn also notably helped bring Bruce Springsteen to Broadway, with a show that opened before the pandemic and then returned in summer 2021 as the first show back on Broadway after the theatrical shutdown.
“This is a thrilling next chapter for Jujamcyn and ATG in our continued commitment to creating raves among our audiences, artists, producers, and teams. Our companies share a passion for innovation and hospitality as well a deep belief in the power of theater. By bringing our teams and talents together, we can bring out the best in each other to deliver that vision,” Roth said.
“We are delighted to be combining our operations with Jujamcyn. Our combined expertise and capabilities will enable producers and other creatives to bring their visions to life and create the unimaginable for our audiences. We are excited by the further development opportunities for our valued employees. I look forward to working with Jordan, Hal and the team at Jujamcyn to continue creating shows that touch, move, and unite people,” Cornell said.
The transaction is expected to be completed in 2023, subject to regulatory approval.
