Business

That’s $how biz: ‘Spidey’ theater sold to Brits for $60M+

Live Nation has reached a deal to sell Foxwoods Theater — one of Broadway’s biggest houses — to Britain’s Ambassador Theater Group.

The 1,932-seat West 42nd Street theater, the current home of “Spider-Man: Turn Off the Dark,” fetched between $60 million and $70 million, according to sources.

“The owner wants to be hugely respectful to the staff and the production,” a source said. “They want them to stay there as long as they like.”

The purchase is the first major American acquisition for Ambassador. The company, which is controlled by private-equity firm Exponent, also owns theaters in London’s West End theater district.

This deal, first reported on nypost.com, was done through Ambassador’s Lyric unit. Ambassador had bought a string of European theaters from Live Nation a few years ago and also owns a ticketing business.

Live Nation put Foxwoods up for sale in December.

Ambassador beat out two separate offers from Broadway producer Jon B. Platt, whose credits include “Wicked” and “The Book of Mormon,” and Jordan Roth, president of Jujamcyn Theaters, the No. 3 owner of Broadway houses.

Lisbeth Barron, partner at Berenson & Co., who acted as banker for Ambassador, told The Post: “They are marrying their leading London theaters with the most prestigious theater property in New York.”