The New York-based Nederlander Organization that operates many theaters and music venues across the U.S. will now take control of Washington D.C.’s National Theatre, as it united with Jam Theatricals which owns the 184-year-old venue.
“Nederlander is a family company established over 100 years ago. Over the past 25 years, Steve Traxler has built a company of quality with similar core values that makes this combination a perfect fit. I am so pleased to welcome Steve and the entire team of Jam Theatricals into our family,” Nederlander National Markets LLC President James L. Nederlander said in a statement earlier this week.
Along with managing the National Theatre, season ticket subscriptions in 26 cities around the country will be overseen by the new company created through the merge, the Nederlander National Markets.
The company will work under the direct leadership of Nederlander President Nederlander and Executive Vice President Nick Scandalios.
“Nederlander has always been a pioneer in the industry of live entertainment,” Traxler, co-founder and CEO of Chicago’s Jam Theatricals, said in a press statement. “They are the gold standard when it comes to patron experience and audience development. I am so pleased to maintain a key leadership role and continue working with my entire staff.”
Nederlander Organization currently runs nine Broadway theaters, while Jam Theatricals presents touring productions of Broadway shows.
In a Forbes article on Wednesday, Marc Hershberg also pointed out that “After almost four decades, the Nederlander family has regained control of the National Theatre.”
The family had been in charge of the historic theater since 1972 until it lost it to the Shubert Organization, which was its rival, in 1980.