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Star-Studded Investor Group Rescues Iconic Vancouver Cinema
27 Oct
Summary
- Osgood Perkins, Mike Flanagan, Sean Baker among investors saving Park Theatre
- Rio Theatre CEO Corinne Lea to lead new Park Theatre operations
- Cineplex ceases operations at Park Theatre after 8 years
In a significant development for Vancouver's cultural landscape, a group of prominent filmmakers and investors have stepped in to save the city's historic Park Theatre. The new ownership team, led by Corinne Lea, CEO of the Rio Theatre, has secured the lease for the iconic cinema on Cambie Street.
The impressive list of investors backing the Park Theatre's revival includes Osgood Perkins, Mike Flanagan, Oscar winners Sean Baker and Samantha Quan, as well as Zach Lipovsky and Finn Wolfhard. This star-studded consortium of film industry professionals has come together to ensure the continued operation of the beloved art-deco cinema, which first opened its doors in 1941.
The move comes after Cineplex, the Canadian exhibition giant, ceased operations at the Park Theatre on October 26th. The exhibitor had been running the cinema under a lease agreement since 2013. As part of the transition, Cineplex will be removing and relocating the theatre's 70mm projector to a new location.
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"The Rio Theatre is very excited by the opportunity to revive Vancouver's historic Park Theatre in the beloved Cambie Village neighborhood," said Corinne Lea in a statement. "We are grateful for the support of this impressive group of film industry professionals, and could not do this without them!"
