Iconic Lido Theater’s operator will lose lease and shut down Jan. 1
The future of the Lido Theater, the 1930s single-screen movie house and entertainment venue at the entrance to the Balboa Peninsula in Newport Beach, is uncertain as Lido Live, which has operated the theater since 2014, is expected to be booted from the property New Year’s Day.
Hammer Brunch, who runs Lido Live, confirmed Tuesday that the property owner, Fritz Duda Co., told him that his 20-year lease on the theater will be terminated effective Jan. 1.
“They didn’t give me a reason,” Brunch said. “They came up with an obscure law that gives them the right to kick us out. There’s nothing we can do about it.”
Representatives of Fritz Duda Co. did not return calls seeking comment.
Lido Live took over the flamingo-pink theater at 3459 Via Lido in June 2014 after Regency Theatres lost its lease on the property.
At the time, Fritz Duda Co. described Lido Live as a fresh tenant that would breathe new life into the aging theater. The building got a fresh paint job — muted green and tan instead of the traditional pink — the interior was rehabilitated and the vision for the venue changed.
The theater began hosting private movie screenings and an occasional public film, but its main focus became live musical acts. Performers from Smokey Robinson to ‘70s and ‘80s tribute and cover bands have headlined at the venue, aiming to attract an older audience that might shy away from contemporary acts that commonly play at other music venues in Orange County, Brunch said.
Bands showcasing the music of the Rolling Stones, Led Zeppelin, Journey and Oingo Boingo have been scheduled through December, according to the Lido Theater’s website. Hammer said acts have been booked through December 2016.
The theater, on the edge of Via Lido Plaza — a shopping center with tenants that include West Marine, Starbucks and Woody’s Diner — has welcomed visitors to the Balboa Peninsula for decades.
David Schniepp, who runs event bookings at the venue, said business had been in decline for at least 10 years before Lido Live took over. Schniepp said the single-screen cinema was unable to match the level of comfort and convenience offered by increasingly popular multiplexes.
“You’d come by on a weeknight and it would be dead,” he said. “People want to preserve it, but those same people aren’t seeing movies there anymore.”
Brunch said that under Lido Live’s leadership, concerts on Thursday, Friday and Saturday nights have been well-attended, with about 650 people showing up at the 700-capacity venue.
Brunch estimated he has spent $4 million painting, upgrading the interior and buying new projectors and sound equipment. He’s unsure whether he’ll get any of his money back.
“[Fritz Duda] courted me for two years to get me to do this,” he said. “Now they pull the plug just as it becomes a success.”
