Larchmont, NY - Petition Urges Regal Cinemas to Lift Restrictions on Larchmont Playhouse Purchase
From Larchmont Patch: An online petition trying to facilitate the reopening of the Larchmont Playhouse has been posted on change.org.
According to a Larchmont resident, Ellen Zuckert, who has been leading the effort to save the movie house, Regal Cinemas can prevent future owners of the Playhouse from screening first-run films, making it nearly impossible to exist as a sustainable business, the Daily Voice said.
Michael DiCosimo, a movie industry pro, signed a contract worth about $1.3 million last year to buy the iconic movie house on Palmer Avenue.
In the petition, posted by Elizabeth Bradley of Larchmont, Regal became the owner of the Playhouse when it absorbed United Artists Cinema, and then sold it in 2015.
A 15-year restrictive clause was created at the time of the sale that established an anti-competition clause, among other things. Regal Cinemas has movie theaters in nearby New Roc City in New Rochelle.
The petition states that, if the clause isn’t removed by Jan. 16, DiCosimo can walk away from the deal.
Story link: http://patch.com/new-york/larchmont/petition-urges-regal-cinemas-lift-restrictions-larchmont-playhouse-purchase
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