As reported in The Daily Tarheel, the Varsity Theatre is scheduled to reopen with new owners in late November.
The new Varsity will sell tickets to newly released and classic movies for $3.
The former owner closed the more than 80-year-old Franklin Street theater this summer after declining ticket sales.
Today, new owners will announce their plans for renovation, which include an upgraded lobby and concession area and a children’s birthday party room.
The owners declined requests for an interview until their announcement.
Former owner Bruce Stone, who operated the Varsity for nine years, said lowering prices didn’t work for him, and he doesn’t know how $3 movie tickets will work to sustain the new Varsity.
Stone also stated in a June letter announcing the Varsity’s closing that downtown parking kept people from attending shows. Read More
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