Complex sentence: In New York the comedy opened at Chanin's 46th Street Theater with Jack Yellen and Lou Holtz (actor) as producers and Holtz in the featured role as "the old undergraduate".
Split into simpler sentences: In New York the comedy opened at Chanin's 46th Street Theater with Jack Yellen and Lou Holtz (actor) as producers. Holtz performed the featured role as "the old undergraduate".