New World Stages sits at 34 West 50th Street in Manhattan.
New World Stages sits at 34 West 50th Street in Manhattan.
(courtesy of newworldstages.com)

Broadway and off-Broadway producing company The Shubert Organization is set to expand its off-Broadway reach with the acquisition of 50th Street theater complex New World Stages, according to published reports.

With five theaters that range in size from 199 to 499 seats in its complex, New World Stages consistently serves as a home to several off-Broadway productions. Its current tenants include Heathers The Musical, Gazillion Bubble Show, Avenue Q, iLuminate, and Stalking the Bogeyman.

New World Stages' space also includes a common lobby and two bars. The facility is currently owned by Stage Entertainment. The Shuberts currently own only one off-Broadway theater, the Little Shubert Theatre, which was recently home to shows such as Under My Skin, Lady Day, Potted Potter, and more.

The Shubert Organization currently owns 17 of the 40 Broadway theaters. The company also serves as a major Broadway producer, with productions including Ain't Misbehavin', Cats, and many more.