Cherry Lane Theatre has been purchased by indie film studio A24

Apparently, a deal with the Lucille Lortel fell through.

I wonder what they're planning to do with the space? Convert it into a screening room? Mount plays and solo shows? Use it for both live theatre and screenings/premiere events? Up to this point they have not been in the live theatre biz at all, but $10M is a pretty low price for a prime venue in the Village.

Where has it been shown A24 has re-partnered with Rudin?

Also while not in the theater space they have produced acclaimed film versions of recent plays such as The Whale and The Humans and Joel Cohens film version of Macbeth

This is the only real reference I've seen, and Jordan Ruimy is kind of a hack who runs with unsubstantiated rumors. It could be pulled from old press releases, or Rudin could be attached in name only. The project has been kicking around for 3 years.

If Rudin did want to get back to producing, and if the package of play & star was good enough, I imagine Shubert or another landlord would give him a house. There would be outcries, but it could happen.

Updated On: 3/3/23 at 04:01 PM

Ke3 said: "A24 recently expanded into television and it’s not out of the question that they’d like to push into theatre. They also work with a lot of talent who are interested in or already come from the theatre so this could be them developing an outlet for their coterie of artists to help strengthen their working relationships. They could end up handling production for every aspect of certain people’s careers."

Yes, it's not out of the realm of possibility considering how Annapurna (a much smaller studio) and Audible have expanded into theatre with some success.

This could also be A24 trying to be predictive of the movie distribution business going forward. A decade from now, the theatre chains might look quite different and we might see a return to an era where studios owned their own theatres. A24 controlling and programming its own screening venue –– like Netflix with the Paris (which has had truly excellent programming) –– is a natural evolution.

Perhaps above all, it's an owned real estate asset related to their field of work, should they ever try to sell or merge.

Here's some more info from the NYT. I view this all as a positive, and it's pretty much what we had predicted.



"A24 plans to present some events celebrating Cherry Lane’s centennial this spring, and then to close the theater for renovations before beginning full-scale programming next year.
...
the company had not yet decided whether it would develop work for the stage, or present work developed by others. The official, who was granted anonymity to describe the company’s plans, said that the studio hoped the theater would allow it to strengthen existing relationships with writers and performers who work on stage and screen, and to develop new relationships with comedians and theater artists.

A24 plans to retain the theater’s existing staff while adding to it with its own team, the official said, and as part of the renovation it plans to install technology so the theater can be used for film screenings."

Updated On: 3/6/23 at 01:31 PM