Shubert Buys New World Stages

The move gives the Shubert Organization more flexibility as it shepherds shows to off-Broadway or readies them for Broadway homes. It gives Shubert about 1,900 new seats to fill, with cheaper labor costs than Broadway. No terms were disclosed.

The organization owns and operates 17 of Broadway’s 40 theatres, the off-Broadway Little Shubert and the Forrest Theatre in Philadelphia. It also owns ticket-seller Telecharge.

New World Stages has four tenants including “iLuminate” and “The Bubble Show,” which was bought from Stage Entertainment, a leading European producer that recently gambled and lost putting “Rocky” on Broadway.

New World Stages has lately emerged as a place where some fading Broadway shows have found new life, including “Million Dollar Quartet,” “Avenue Q” and “Peter and the Starcatcher.”