Villa Theatre Sold; Will Become Rug Gallery
SALT LAKE CITY, UT — According to a report from deseretnews.com, the Villa Theatre was bought by local businessman Hamid Adib.
Adib plans to preserve and hopefully restore the theater, and will use the theater as a showcase for his rug business while creating a “museum” of sorts of the Villa.

http://www.sltrib.com/2004/may/05232004/utah/168935.asp
You can also check the villatheatre.com article list:
http://villatheatre.com/History/ArticleList.asp
Here is part of an e-mail I received from Hamid Adib this morning:
"I salute people like you who also recognize the value of our historical land marks and actually do something about it. . . You and the rest of the Villa fans are more than welcome to visit and enjoy the Villa atmosphere anytime. We will create a museum like environment that members of the community can visit and won’t feel like they have to purchase something every time they come in. I would also like to tell you that we will have a section in the Villa that will be dedicated to the Villa information and history. . . The Villa is beautiful but unfortunately is in a very poor condition. I will do everything in my power to preserve it as much as possible and yes Villa will stay in place for a long time. I am receiving a few calls a day from developers that have many destructive intensions for the building. Some of the other groups that competed against us were also thinking to demolish the building to develop office buildings. We completely reject that idea and I would like to assure you this will not happen. . . "