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You’ve read a lot about the Loop Theater District–that collection of restored playhouses and new spaces in and around Randolph Street.

Up next: the Michigan Avenue Theater District.

Yes, this is the right moment to declare the new theater area’s existence because the redoubtable Tony De Santis (of Drury Lane fame) is about to open his new theater at the Water Tower Place complex with a production of “The Full Monty.” Assuming that opens on schedule, we’ll have four shows up and running just off the Magnificent Mile by spring.

The four? “Lookingglass Alice” at the Lookingglass Theatre in the Water Tower Pumping Station, Court Theatre’s production of “Quartet” at the Museum of Contemporary Art, “Circle of Friends” at American Girl Place and the aforementioned “Full Monty.” They’re all within two blocks of each other.

This is a great thing. One major problem with the Loop district is that it’s too far removed from the bulk of hotels. If you’re staying at the Park Hyatt and looking for something to do, you may not think to jump in a cab to the Loop. So shows right off Michigan Avenue would solve that problem.

But issues remain. Lookingglass has failed to push itself into the visitor consciousness. That’s a consequence of inadequate signage and, more important, insufficient levels of activity in the building. Lookingglass is only producing three of its own shows a year. That’s not enough.

Lookingglass ensemble member David Catlin says it takes time to change over the theater for each show–Lookingglass likes to use its venue in many complex configurations. And he says it’s also a consequence of “budget limitations.” Understandable, although the theater is only paying a nominal rent to the city.

Now is the moment to seize the critical mass. The MCA performance space is becoming increasingly popular. De Santis says he has negotiated cheap parking and his new theater will catch people with prominent signage. And American Girl Place snags more girls than any other single retail outlet in the nation.

All of that should be great for Lookingglass–if it would just start acting like the core of the new district and shout about its presence a bit louder. “Alice,” which opens Sunday, has sold well. It’s a popular title. There should be a message for Lookingglass in that.

Merger concerns

America’s theaters are terrified by the impending merger of SBC Communications and the AT&T Corporation. (SBC said last week that it planned to buy its rival for $16 billion.)

Why? AT&T did more for new American plays than any other corporation. Period. And it’s about to be swallowed up.

“It’s certainly cause for concern,” says Roche Schulfer, executive director of the Goodman Theatre. “There’s no question AT&T has been the leading source for corporate support for new works for the past 15 years or so.”

Remember Frank Galati’s “The Grapes of Wrath” at the Steppenwolf Theatre, which went to Broadway? AT&T supported that. Ditto August Wilson’s “Seven Guitars” at the Goodman Theatre. Those were just two of more than 100 new plays (many by unknown writers) in non-profit theaters across the country that have been part of AT&T: OnStage, the AT&T Foundation’s flagship program that was designed to support premieres–especially premieres related to diverse cultures.

Karen Zacarias’ new play, “Mariela in the Desert,” which opened Tuesday night at the Goodman, also was bankrolled by AT&T.

The telecom giant was unafraid to get behind controversial works–usually an anathema to an American corporation worried about offending any particular constituency. AT&T funded the Manhattan Theatre Club’s production of Terrence McNally’s gay-themed “Love! Valour! Compassion!,” which won the 1996 Tony, and also backed Suzan Lori-Parks’ controversial “Topdog/Underdog,” which eventually won the Pulitzer Prize.

“The demise of AT&T,” says Stephen Richard, the executive director of the Arena Stage in Washington, “is going to have a serious impact on the production of new work in the American theater.”

An SBC spokesman says it’s too early to know what will happen to AT&T’s philanthropy. But the OnStage program flew in the face of what most corporations do with their money and theaters have good reason to be scared.

This isn’t goodbye

For the last two summers, the Goodman Theatre’s Latino Theater Festival has attracted an enthusiastic following, but sadly it won’t be back this year.

“We’re taking a year off to regroup,” says coordinator Henry Godinez, who insists this is just a one-year hiatus. His 2006 plans call for major visiting productions in both of the Goodman’s main spaces. We hope that works out–this festival is too important to be short-lived.