Bill T. Jones / Dance Theater Workshop merger 1

A major merger in the New York dance world is in the works.

The 25-year-old Bill T. Jones/Arnie Zane Dance Company is in final negotiations to merge with Dance Theater Workshop. The two groups will combine their boards and staff into one entity with a new name and mission, though the final details are still being worked out.

"We're very exciting about the model we're working on," said Andrea Sholler, executive director of Dance Theater Workshop. "We will be creating an entirely new entity."

Ms. Sholler said the groups have been working on the merger since October, and that she expects the two boards to sign the final legal documents by the end of May. It has not been decided yet who will run the organization. Bill T. Jones/Arnie Zane will move into Dance Theater's new building on West 19th Street.

For Dance Theater Workshop, the merger is a way to remain solvent. The 45-year-old organization ran into financial trouble after opening a state-of-the-art facility in 2002. As of last year, the dance institution had $4.2 million of debt.

Read more at Crain's Business Journal