Lou Lumenick on management change at the ZIegfeld Theatre

Cablevision is holding onto its lease for the iconic Ziegfeld Theatre but will turn management over to Bow Tie Cinemas, which has a contract pending to buy almost all of Cablevision’s Clearview Clearview Cinemas chain — 41 theaters, mostly in New Jersey, as well as some in Long Island, Westchester and Pennsylvania. The chain had been on the block for at least a year.
CEO Charles B. Moss Jr. tells me Bow Tie Cinemas has a “multi-year” contract to manage the Ziegfeld on W. 54th St. which Cablevision leases from the owners of the adjoining office tower on Sixth Ave. He says a confidentality agreement between the two companies precluded discussing the details of the contract or the financial situation at the Ziegfeld, which I reported last year is in danger of closing because of losses of around $1 million a year.

Read more: Ziegfeld to be managed by new owners of Clearview Cinemas, including Chelsea; First and 62nd closing soon http://www.nypost.com/p/blogs/movies/ziegfeld_including_chelsea_managed_6RLLoZEC6HsB7fThUDFY2N#ixzz2SRKIHLjZ

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