Park Theatre Takeover by The Rio and Team of Investors
The team behind Vancouver’s legendary Rio Theatre, along with a team of private film industry financiers, will be taking over Vancouver’s Park Theatre on Cambie, preserving an essential independent cinema in the city. Osgood Perkins, Mike Flanagan, Sean Baker, Zach Lipovsky, and Finn Wolfhard are amongst the investors.
Park Theatre Takeover by The Rio and Team of Investors
Initially opened in 1941 as an Odeon, the Park Theatre was later operated by Vancouver-based Festival Cinemas until it was bought by Cineplex in 2013.
Cineplex, who have been running the theatre since 2013, recently announced that the long-standing Cambie Street theatre would be closing its doors on Sunday, October 26.
The Rio team approached Vancouver-based producer and owner of Oddfellows Pictures and co-owner of Phobos, Chris Ferguson, to assemble a group of passionate filmmakers and film professionals to finance this new project. Given his established network of relationships in the field and a dedication to making Vancouver a centre to work, thrive and stay in the film industry, Chris was able to gather an impressive list of people whose passion and values align with Rio Theatre owner Corinne Lea’s own commitment and desire to save the iconic venue.
Related: Chris Ferguson recently received the Mayor’s Achievement Award
“The Rio Theatre is very excited by the opportunity to revive Vancouver’s historic, art-deco Park Theatre in the beloved Cambie Village neighbourhood,” says Lea. “We are grateful for the support of this impressive group of film industry professionals, and could not do this without them! After almost two decades of rocking the Rio, we look forward to this expansion, and bringing the same fun, energy and passion to a new location.”
The new Park Theatre team is led by the Rio’s CEO Corinne Lea, along with investment from filmmakers including Chris Ferguson (Backrooms, The Young People), Osgood Perkins (Longlegs, The Monkey), Mike Flanagan (Doctor Sleep, The Life of Chuck), Academy Award winners Sean Baker (Anora, The Florida Project) and Samantha Quan (Anora, Red Rocket), and Zach Lipovsky (Final Destination Bloodlines, Freaks). Other financiers include award-winning actor, musician and director Finn Wolfhard (Stranger Things, It) and world-renowned film industry professionals from behind the camera including, film editor Graham Fortin (Keeper, The Monkey), sound designer Eugenio Battaglia (Eternity, Heretic), post supervisor Andy Levine (Longlegs, Heretic), film coordinator Jill Orsten, and film attorney Christina Bulbrook (A Complete Unknown, The Monkey).
Built in 1938 as a single-screen movie theatre, the Rio has since grown and evolved into one of Canada’s most successful, multi-purpose independent venues. Showcasing both live performance and film, the Rio Theatre is the anchor of East Vancouver’s dynamic Commercial Drive neighbourhood.
The team from the Rio Theatre says it looks forward to returning the beloved Park Theatre back to its roots as the cultural hub of Cambie Village.
