A recent New Jersey merger shows that teaming up with a competitor can sometimes be the best solution to a business problem. In some cases, it can be the only way to stay afloat in a struggling economy.
The merger involves two New Jersey theater companies—the Theater Company and What Exit? Theater Company—both of which were facing serious business problems. The Theater Company was informed that its lease with Union County College would not be renewed, leaving the company without a theater to stage productions. Meanwhile, What Exit? was trying to figure out how to move forward after the departure of the company’s prominent artistic director.
As reported by the Star-Ledger, the solution for both theater companies was to join forces and form a new entity. The new organization, which will use the Theater Company name, has a nine-member board comprised of benefactors from both entities.
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Business Organization Updates, Mergers & Acquisitions Updates
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