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Hot Docs sells its cinema for $6.25 million, but will continue leasing it
TORONTO, ONTARIO, AUG 11 – Hot Docs sold its century-old Annex cinema for $6.25 million due to financial pressures but secured a multi-year lease to continue operations, organizers said.
- In a news release on Monday, Hot Docs announced its flagship cinema on Bloor Street West sold for $6.25 million, closing the deal on Aug. 6.
- Amid deep financial pressures, Hot Docs put the Ted Rogers Cinema on sale last year, warning supporters that funding risks threatened the festival.
- Now with sale closed, Hot Docs secured a multi-year leasing agreement with an anonymous neighbour interested in supporting the arts in Toronto.
- Hot Docs will continue programming, including the Doc Soup series and Curious Minds festival, as Sanchez said, `While we are still recovering and rebuilding, we're thrilled that Hot Docs Cinema will remain a community hub`.
- Hot Docs has secured the preservation of its flagship venue with the sale behind it, as the century-old cinema remains central to Canada's documentary scene despite last summer's closure and layoffs.
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Winnipeg Free Press+7 Reposted by 7 other sources
Hot Docs sells its cinema for $6.25 million, but will continue leasing it
Breaking News, Sports, Manitoba, Canada
·Winnipeg, Canada
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Hot Docs, the documentary film festival organization, said Monday it has sold its flagship theater but will continue to operate the venue in Toronto's Annex district.
Coverage Details
Total News Sources12
Leaning Left6Leaning Right0Center2Last UpdatedBias Distribution75% Left
Bias Distribution
- 75% of the sources lean Left
75% Left
L 75%
C 25%
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