The theatre showed films until 1973, and is now owned by a church.
The number of theaters owned or operated by the company dropped from 448 to just over 300.
"The alternative was to have the theater outside the project area, owned by an organization that seemed to want to get rid of it."
The theater is owned by the city, and the academy operates it.
From the mid-1930s until about 1960, the theatre was owned by the Abrahams family.
The organization, which owns more legitimate theaters than any other, was not celebrating alone.
The theater is owned by the city of Durham.
It also has the distinction of being one of the few family owned theaters in the country.
And at the end of the term the land, and the theater, are owned, equal shares.
Both theaters were originally built and owned by consortiums of important families in the two towns.