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The historic theater (but not the land it sits on) is being purchased by Don Kushner and Elie Samaha, the LAT is reporting. Does the name Samaha ring a bell? He has quite the checkered history, having been sued by a German company called Intertainment that alleged fraud and racketeering (he was accused of inflating the costs of films being bankrolled by the company). Intertainment was awarded $122 million, but couldn't collect and wound up settling for $3 million. Seller is a partnership of Warner Bros. and Paramount Pictures that has been trying to unload the property for some time.
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent Hollywood stories:
Obama meets with victims of LAX shooting*THR's Stephen Galloway wins entertainment journalist of the year
Finke, Waxman, Penske, Min: Battle of the Hollywood trades
Photos: AARP Films for Grownups Film Festival
Best thing about next year's Oscars night probably just happened
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Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.