Save Newport Real News in Newport Beach
One week to the day after we released information about the city attempting to put theater-based deed restrictions on the Balboa Theater property, Lido Live rumors are circulating that they will be closing their doors for good. (Edit: now confirmed.)
The theater, open since 1938, recently switched into an entertainment venue as Regency Theaters left the property last year. Multiple sources close to the theater have confirmed the closure, but representatives for the theater were not immediately available to comment.
As most entertainment venues go, the door prices typically go to pay for the performers and the venue makes its money off of alcohol sales. Given the fairly regular attendance of hundreds of people per show, it would not be surprising if the city’s new ultra-restrictive alcohol rules simply made smooth operation too cumbersome.
In March of this year, Councilwoman Diane Dixon asked to create a new rule for alcohol-serving establishments on the peninsula, transforming what was previously a simple paperwork shuffle into a full-on commission hearing by the planning commission. Because of this, Lido Live had to jump through serious hoops and had unheard-of restrictions put onto it regarding how it could sell alcohol, to whom it could sell alcohol, and how much alcohol it could sell. This undoubtedly turned what was once a community-oriented passion project into a royal pain for the managing partners.
The last show bookable on their site is for Saturday, December 19th. You can purchase your tickets at LidoLive.com
This article will be updated as information is available.
UPDATE @3:06pm: The DailyPilot reports that the lease was terminated without a reason given by the property owner. I’m sure this won’t be the last update to this story.
UPDATE @4pm: I have extended an offer to the managing partners Hammer and Dave to join me in my Balboa Theater bid which is already in progress. I think this could be a win/win for everyone.
