Foxwoods Sale In Works

The Live Nation-owned Foxwoods Theatre in New York City may soon find itself under new ownership with news of negotiations for a sale.

Two prospective owners – Broadway producer Jon. B. Platt and Jujamycn Theaters President Jordan Roth – have reportedly submitted bids for the 1,932-seat theater, which is currently running “Spider-Man: Turn Off The Dark.”

Photo: AP Photo

Sources close to the matter told the New York Post the due diligence period is nearing an end and bids have gone as high as $45 million. The venue was originally expected to fetch up to $60 million, but a recently discovered $15 million pension liability issue led to a drop in valuation, the sources added.

The Foxwoods initially drew interest from the Nederlander Organization and Broadway Across America, though neither made a bid, the Post said. The theatre’s size and technical systems have been cited as potential reasons a sale has been slow going.