SOUTH KINGSTOWN -- Theatre-by-the-Sea, the historic South County landmark that closed in 2003, may be back in business.
The theater's owners say they signed a purchase and sale agreement Friday with Massachusetts cinema chain owner, Bill Hanney, who plans to reopen the theater and its restaurant.
"His intention is to run it as it has been run in the past," said co-owner Renny Serre, "and hopefully improve upon it."
Serre, one of the principals in FourQuest Entertaiment, which owns the 73-year-old theater, said he is hopeful a deal can be wrapped up in 60 to 90 days, which leaves open the question whether Hanney would be able to put together even a partial season this summer. No sales price was disclosed, and Hanney was not available today for comment.
Hanney is president of Entertainment Cinemas, a South Easton, Mass. firm that owns 10 movie complexes in four states, including an eight-screen theater in South Kingstown.
Serre was careful to point out that there are still many details to be worked out before a closing. "We're excited, it's positive but it's just one step in the process, he said. "Anything can happen."
He is cautious because FourQuest has entertained any number of offers for the venue over almost four years and they have all come to naught.
"All along we've been looking for someone with theater experience, a good business mind, and financial backing and he has all three," Serre said of Hanney. "And those aren't easy to find apparently, because we've been doing this for a long time.
"But I think he might just be the right guy at the right time."
Serre said that Hanney first expressed interest in buying the theater in May 2003, soon after he and partner Laura Harris announced they were getting out of the theatrical producing business to publish children's books.
"He's been on the radar since then," said Serre. "Now circumstances have conspired to make it possible for him to do something about it." He wouldn't say what those circumstances were.
The 500-seat theater in Matunuck, along with several other properties, went on the market back in July 2003 for $5.9 million. At the time, the package included a Charlestown motel and an inn in Narragansett used to house actors. Both those latter properties have been sold. The theater, which includes a restaurant and almost seven acres of manicured grounds near the shore, has been on the market for an asking price of $1.795 million.
There is also a rehearsal hall in Wakefield that is officially not on the market, said Serre. "We're holding it back as part of the package," he said. A news release said the rehearsal space was part of the deal.
Theater-by-the-Sea, one of the last of the old-fashioned barn style theaters in the country, has been producing summer stock and musicals since the 1930s. During its glory days, in the 1950s, it featured such stars as Judy Holliday, Mea West, Groucho Marx and Marlon Brando.
The theater did not close for lack of popularity. Up until its final season, it played to near sell-out crowds. Although it has been closed the buildings and grounds have been maintained, which Serre said has been time consuming and costly.
Maintaining the property and looking for a buyer has remained a full-time job, said Serre
-- Journal arts writer Channing Gray
File photos
