Ambassador Theatre Group (ATG) has announced a new partnership with Broadway theater owner Jujamcyn, who oversee five New York houses.
The move will see the two organizations join forces and broaden ATG's portfolio of theatres. The five venues in question are the St. James, Al Hirschfeld, August Wilson, Eugene O'Neill, and Walter Kerr, housing a variety of long-running and new Broadway productions including Hadestown, Moulin Rouge! The Musical, Funny Girl, The Book of Mormon, and New York, New York.
Jordan Roth of Jujamcyn will sit on the board as the largest individual shareholder of the combined group and serve as Creative Director. Mark Cornell of ATG will serve as CEO.
Cornell said in a statement "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."
President of Jujamycn Roth added: "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 theatre. By bringing our teams and talents together, we can bring out the best in each other to deliver that vision."
At the moment, ATG has 58 venues in its portfolio including two Broadway venues. The transaction is set to be completed in 2023, with financial terms not disclosed.