Farewell, River Oaks Theatre: Negotiations fail, forcing venue to close

“After lengthy negations Landmark Theatre and Weingarten were not able to reach an agreement. Therefore, Landmark Theatre has no choice but to close its doors effective next week. No definitive date has been set.  Landmark Theatres would like to thank the HOUSTON community for their years of support."

For Houston film aficionados who had been hopeful about the theatre's fate, news of the River Oaks Theatre's imminent closing was a heartbreaking footnote to the cinema's 82-year-old run in Houston, Houston Film Critics' Society President Doug Harris said.

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"It’s a very sad day for the entertainment world and a very sad day for Houston, Texas," Harris told Chron. "I never thought I would see the day that this fabulous theatre would no longer be open and available for people who like unusual, distinctive and hard-to-find films. It saddens me that this glimpse of days-gone-by is now indeed gone away forever."

--END OF UPDATE--

River Oaks Theatre won't go quietly into the night.

Negotiations are still underway between Landmark and Weingarten. The suspenseful back-and-forth talks took a new turn this week, with Landmark releasing this statement and proposal Thursday night to Weingarten's recent offer:

"After many months of waiting for a response, negotiations are underway. We are making progress, however, Weingarten insists that during a substantial period of the extension term that Landmark pay the same rent prior to the pandemic. The pre-covid rent reflects a different world that does not address the realities of today or the foreseeable future. Landmark has also offered to pay an additional percentage rent to allow Weingarten to come close to the pre-Covid-19 rent. We are hopeful Weingarten accepts our most recent offer otherwise we have no choice but to close next week."-

According to a Landmark Theatre spokesperson, Weingarten and Landmark are scheduled to meet Friday, March 19 for final negotiations. The cherished 1939 Art Deco theater is slated to close on March 31 after an unprecedented 82-year run, if a deal between Weingarten and Landmark Theatres is not struck soon.

DON'T GO, RIVER OAKS THEATRE: Houston iconic venue faces risk of closure again

Last Friday Landmark Theatres issued a statement reporting that talks had stalled with Weingarten:

"Landmark Theatres is disappointed to announce that there has been no response or acknowledgment of the revised proposal we submitted to Weingarten Reality this week. In good faith, we presented a fair and reasonable proposal and asked for a response by close of business today. Unfortunately, there has been no response or even acknowledgement of this proposal, leaving us no choice, but continue with our preparation to leave our beloved home of 30 years."

Things began to look up, however, when Weingarten revealed a proposal Tuesday to give River Oaks Theatre offering to give the venue a 24-month repayment plan.

If negotiations progress to an actual deal between Weingarten and Landmark, Houston Film Critics' Society President Doug Harris said that he would support the preservation of the treasured Houston theater every step of the way.

"We will support it in any way we can," Harris told Chron. "We continue to support the theater and ramp up our efforts to make sure it's there for a long time."