Radio City Music Hall Exterior

December 27, 2013 by staff

Radio City Music Hall Exterior, In a deal that secures the Rockettes and the Radio City Christmas Spectacular as fixtures on Manhattan’s holiday calendar, Tishman Speyer Properties said yesterday that it had leased Radio City Music Hall to the Cablevision Systems Corporation, which plans to renovate the famed Art Deco theater and use it for televised performances.

The agreement puts an end to speculation that the Rockettes and the Christmas pageant would be moved or put out of business. As part of the transaction, Cablevision agreed to purchase the rights to both the Rockettes and the Christmas pageant for an unspecified sum from the Mitsubishi Estate Company.

Cablevision, which is also a co-owner of Madison Square Garden, said it planned to spend $25 million renovating the 65-year-old concert hall, whose exterior and interior are largely protected as designated New York City landmarks. The company said that plaster, paint, upholstery and other elements would be restored, and that a new television production studio would be installed.