Disney doesn't like NYC?

When reading the Wikipedia article for the Disney live-action musical Beauty and the Beast, I noticed something odd in the trivia section. Disney has leased the rights to the show to travelling companies, but they will not allow it to be performed within fifty miles of New York City. Why?

I’m fairly certain other Disney musicals have hit Broadway. Why not this one?

I realise that Wikipedia articles aren’t always reliable, but I’m curious about the reasoning behind this.

You misunderstood the article. The show has been running on Broadway for 12 years. Disney won’t allow competitors to produce the show within 50 miles. They don’t want anybody to take their audience away. Vague memories of my days in high school drama lead me to believe that this practice is not unique to Disney.

That makes considerably more sense. The article said Disney wouldn’t allow “the show to be performed” within 50 miles of New York. I just assumed that there wasn’t already one there.