New Owners of Jackson Hole Twin Cinema Property Also Seeking to Purchase Movieworks | Business

0


[ad_1]

The same group that bought the Jackson Hole Twin Cinema is also looking to buy Movieworks.

The Staryks, Joe Rice and Tyler Davis bought the Twin Cinema property through a limited liability company, Teton Gables LLC. Snake River Brewing owners Noa and Ted Staryk confirmed on Thursday that the same group plans to buy Movieworks and continue to operate the property as a theater. But the Twin, as former owner Frank Londy told News & Guide last week, will not remain a theater, in part because of a restrictive covenant the filmmaker has placed on the property.

If all deals are made, Noa Staryk will take over the twin property and the three men will run Movieworks.

Londy built the Jackson Hole Cinema on the Twin Cinema property in 1976 and opened it in 1977, the same year “Star Wars: A New Hope” hit theaters. He then paired the screen. And, in 1991, he built the quadruple Movieworks further south on Broadway.

Londy still owns Movieworks according to public records, but told News & Guide last week that he was also considering selling the business.

The movie mogul also said Noa Staryk, married to Ted Staryk, bought the Twin. Noa Staryk had postponed an interview until later in the week.

In that interview Thursday, she said she was interested in the Twin property because of its history.

“It’s a building with a heart and a soul,” Staryk said. “There are so many stories, and so many people have so many stories of their own.”

She said the rest of the team got involved because, as she spoke to Londy, he wanted to understand “the collective fate of the two theaters”.

As her conversations with Londy progressed, Noa Staryk said her husband Ted was interested and did not want to manage the two properties.

On Thursday, Ted Staryk confirmed – while saying he hoped he didn’t “mess up” anything – that the goal is for the same group to own both properties.

The Twin will not remain a theater, in part because of the alliance. This document, which is common knowledge, prohibits its use as a movie theater for the next five years – or until Teton Gables LLC “no longer owns or controls the property.”

Londy was not reachable for comment until press time on Tuesday.

If the group is able to buy Movieworks, Ted Staryk said he plans to continue operating a movie theater, perhaps with its offerings reimagined.

“We’re trying to figure out, with Frank’s blessing, how people are going to engage with theaters in the future,” he said. “It’s going to be different, I think, than that [was] pre-pandemic.

Staryk has said what exactly it will look like remains to be seen. And, again, it depends on how the deal with Londy is made.

But he pointed to the industry’s coverage by The Wall Street Journal, which, among other things, showed how bands record concerts for distribution in movie theaters as an intermediary step before audiences return to theaters in person. crowded concert halls.

It’s part of the equation: theaters are being redesigned for new uses and experiences, alongside traditional screenings.

Another is the boom in streaming, which accelerated during the pandemic as some studios sent movies straight to home TVs, rather than debuting them in theaters first, as they have for decades.

Staryk said he and his partners are considering balancing traditional theatrical operations with possible concerts, as well as selling beer, food, and hosting event screenings like those on the “Rocky Horror Picture Show.” He said the conversation has already started and would likely involve consultants, but the big idea is to answer a question like “How do you create flexible space in a movie theater?” “

The theater will not close until this is resolved, Staryk said.

“How do I do that? I have no idea, but we’ll learn,” he said of his future. “And until then, while we learn, it’s a movie theater.”

The Staryks said they had no immediate plans for the Twin, but Noa Staryk pitched two vague ideas for its future: housing Nest At Home, the home staging, furniture and interior company. that it operates with a partner, or a possible office space.

But the plans are not finalized and Noa Staryk has said that whatever happens with the Twin, they plan to honor Londy’s legacy.

The Staryks said they plan to keep the marquee and poster boxes outside, and Londy left the popcorn maker to them, though Staryk said she still needed the recipe.

The goal, Staryk said, was to let people know that “there was an amazing business, a gathering place that had lived there for a long time.”

Noa Staryk said she understands those who are skeptical of the change and who lament the loss of The Twin as a theater and space for community gathering.

“I understand, I feel the same,” she said. “And so the only assurance I would give, whatever the value, is that we will work hard to be thoughtful, caring, and community oriented.”

[ad_2]

Share.

Leave A Reply