Iconic River Oaks Theatre prepares to close after no deal struck
The story may be at an end for arguably Houston's most cherished theater. Landmark Theatres, which owns the iconic River Oaks Theatre, announced that no deal has been struck between it and Weingarten Realty.
In a statement provided to CultureMap, Landmark reports:
Landmark Theatres is disappointed to announce that there has been no response or acknowledgment of the revised proposal we submitted to Weingarten Reality this week.
In good faith, we presented a fair and reasonable proposal and asked for a response by close of business today.
Unfortunately, there has been no response or even acknowledgement of this proposal, leaving us no choice, but continue with our preparation to leave our beloved home of 30 years.
Weingarten, meanwhile, did not immediately return CultureMap's request for comment.
This news comes as locals have lined the streets in support for the theater, which has been in operation since 1939 and is the site of Saturday Rocky Horror Picture Show performances. The Houston Film Critics Society also spearheaded a campaign to save the theater.
As CultureMap previously reported, the landmark is in danger after after closing for six months last year due to the coronavirus pandemic and subsequent missed rent payments to Weingarten Realty.
Landmark's listed termination of lease date is March 31.
This is breaking news; CultureMap will update this story.