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MIAMI—It’s almost like watching a boxing match. Except it’s a competition for a project that will influence the cultural dynamic in South Beach for decades.

Portman CMC, a group that includes Portman Holdings and CMC Group, and South Beach ACE, a group featuring Tishman Hotels Group and Robert Wennett, are duking it out in a media tit for tat. Although the PR wars have been ongoing, South Beach ACE threw down the gauntlet last week after Portman changed its mind on tearing down the Jackie Gleason Theater as part of its Miami Beach Convention Center redevelopment plans.

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