Broadway powerhouse Nederlander Organization has acquired Chicago-based Jam Theatricals, owner of Washington D.C.’s National Theatre.
The deal will create a new entity, Nederlander National Markets, headed by president James L. Nederlander. Steve Traxler, co-founder, president and CEO of Jam Theatricals, will remain with the new entity, serving as director of strategy and integration. He will oversee subscription operations in 26 cities and the management of National Theatre. Nederlander National Markets will be a standalone entity operating side by side with other Nederlander holdings in New York and Chicago.
“Nederlander is a family company established over 100 years ago,” said Nederlander. “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.”
Traxler called Nederlander “the gold standard” for operating theaters and growing the legit audience. The National Theatre is the nation’s oldest stage for touring Broadway productions. It’s a natural fit with Nederlander’s heft in Broadway venues, which include the Richard Rodgers Theatre, Brooks Atkinson Theatre and Minskoff Theatre, as well as the famed Hollywood Pantages.
“Nederlander has always been a pioneer in the industry of live entertainment,” he said. “I am so pleased to maintain a key leadership role and continue working with my entire staff. We will continue to move forward and strengthen the work we do under the direct leadership of James L. Nederlander and Executive Vice President Nick Scandalios.”
Lisbeth Barron of Barron International Group served as advisor to Jam Theatricals on the transaction.
(Pictured: Margo MacNabb Nederlander, James L. Nederlander, James M. Nederlander and Charlene Nederlander)