Operators of threatened independent Vancouver cinema say offer accepted
VANCOUVER — The operators of a threatened east Vancouver cinema say their offer to buy the building in hope of saving one of the city’s last independent movie theatres has been accepted.
A tweet posted late Wednesday night on The Rio Theatre’s official account said, “our offer was accepted — for now. We have it. We did it.”
Corinne Lea had said she her business partner made an offer to buy The Rio Theatre on Wednesday. She declined to say how much they bid but said it was higher than the $4 million the building was assessed at.
Lea told The Canadian Press via email that they now have 60 days to raise the funds to buy the theatre, adding, “it ain’t cheap.”