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|Home: BigScreen Journal - South Pasadena, CA: Historic Rialto to Close Aug. 20th|
The Pasadena Star-News is reporting that the Rialto movie theater in South Pasadena, California will be closing on Monday, August 20, 2007.
Parent company Landmark Theatres, which operates classic movie houses across the country, announced its plans to close the iconic theater for good on Aug. 20.
Famous for its cavernous auditorium and gargoyle statues - but also widely known for its chipping paint and springy seats - The Railto's aging baroque-style building needs more than $1 million in renovations, said Bill Banowsky, CEO of Landmark Theatres.
Even with major work, however, the single-screen movie house likely could not sustain itself financially showing just one film at a time, he said.
"Like many aging single-screen theaters, The Rialto has become uneconomical to operate as a movie theater," Banowsky said Thursday. "If we can develop an economically viable plan to restore the theater, that is our preference.
"If we are unable to do so, we will make the space available for other uses that are compatible with the neighborhood," he added.
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