Nederlander Out as Operator of Wilshire

The owners of the 1,998-seat Wilshire Theatre in Beverly Hills are removing the Nederlander Organization from its position as operator of the theater, it was announced Friday.

Stagen Realty and Management Inc. hopes to either sell or lease the building to someone who will “take full advantage of the theater’s potential, which we feel the present operators have not accomplished,” said Tom Stagen, president of the realty firm.

In 1986, Stagen filed breach-of-lease litigation against Nederlander. Earlier this year, the parties reached an out-of-court settlement.