Garth Drabinsky, Chairman and CEO of the Livent Inc., has called a press conference Jan. 28 to announced the name of the new Broadway theatre he's building on New York's 42nd Street.

Drabinsky will also announce the title of the first production in the new theatre, which is expected to be the Broadway transfer of his Toronto hit musical, Ragtime, in December 1997 or January 1998.

The New York Post reported that Ragtime will open Dec. 26, 1997, but spokespersons for the show would not confirm that.

Livent has made a practice of selling the name of his theatres to large corporations. He owns two Canadian theatres called the Ford Performing Arts Center, one in Toronto, one in Vancouver. Both are named after the car company. Within the Toronto Ford complex is the Apotex Theatre, named for a textile company.

The new 1800-seat theatre rises on the site of two classic 42nd Street legitimate houses, the Lyric and the Apollo. The Lyric was completely demolished this past fall, except for an landmarked exterior wall. The Apollo stage has been preserved, as have architectural details from both theatres, which have been stored in a warehouse and will be incorporated into the single new theatre. -- By Robert Viagas