Prince theater isn't closing yet

    Online news outlets have been buzzing about the closure of the Prince Music Theater on Chestnut Street in Philadelphia. But reports of the death of the troubled theater appear to be exaggerated.

    Online news outlets have been buzzing about the closure of the Prince Music Theater on Chestnut Street in Philadelphia. But reports of the death of the troubled theater appear to be exaggerated.

    Listen:
    [audio: 090721pcprince.mp3]

    The rumors took off Monday night, when someone onstage after the final screening of Qfest reportedly lamented the Prince Music Theater’s closing. Many in the theater community mistook that statement to mean the theater is going dark. That’s not true, says director Marjorie Samoff.

    But the rumor was fed by the Prince’s unstable finances, a shortened season, and a brief appearance on a sheriff’s sale list. Samoff says for the past year the theater has been in litigation with the bank that holds their mortgage.

    Samoff: The Prince is a mid-sized company with our own building, and with fixed costs that don’t go down and can’t be cut out in times of recession. Like many we are looking to refinance our mortgage and lower our debt payments.

    Like any good theater director, Samoff says the show will go on. She says she has a full season planned.

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