What happened? Well, I remember when the movie came out in 1977, partly because I worked on it as an assistant at United Artists. We knew it was a great song. But the movie itself was an overcostly flop for the studio, excoriated by many critics when it opened (it's fresh now). The song grew in stature over time, was covered by Frank Sinatra, and became a centerpiece in Minnelli's act. It's the song the Broadway community performed as a tribute after 9/11.
Why hasn't anyone stepped up to take this potentially great musical to Broadway? Anyone know why? Too expensive to mount when the original wasn't successful? Rights issues?