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Famous Hollywood cinema up for sale

Latest update : 2008-09-18

The famous Hollywood cinema El Capitan has been put up for sale for 31 million dollars, the owners announced on Wednesday. The cinema had showcased the world premiere of "Citizen Kane".

The historic Hollywood cinema El Capitan, where "Citizen Kane" had its world premier, is up for sale for 31 million dollars, the owners told the Los Angeles Times Wednesday.

Located on Hollywood Boulevard just opposite the Kodak theater where the Oscars ceremony is held every year, the rococo-decor cinema was built in the 1920s but was seriously damaged in a 1994 earthquake.

It then passed into the hands of the CUNA insurance group, which has leased it to Walt Disney which uses it to showcase its new films.

"The El Capitan has a bright history in the entertainment industry and we really want to find a buyer who will maintain its entertainment legacy for a long time" Rick Uhlmann, a spokesman for CUNA Mutual Group, told the LA Times.

Date created : 2008-09-17

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