WILMINGTON, DELAWARE (1/12/2015) The DuPont Co. is selling its downtown theater business to The Grand Opera House, the company announced this morning.
The sale of DuPont Theatre includes related assets and lease of the building.
The company said details of the theater transaction are confidential, but the deal would close on Jan. 20.
“The DuPont Theatre represents an important piece of the company’s history and a symbol of the thriving arts and entertainment community in Wilmington for over 100 years,” said DuPont CEO Ellen Kullman. “This agreement represents a strategic and mutually beneficial business decision for DuPont and The Grand, and we are confident it will continue the theatre’s legacy and provide an even greater entertainment experience for the community.”
Skip Pennella, chairman of The Grand’s Board of Directors, said, “We strongly believe that we can enhance its already impressive history for a new generation of audiences.”
DuPont will continue to manage the theatre until the transaction closes, after which, the theater will be renamed The Playhouse on Rodney Square. The Playhouse name had been used for the theater until it was changed to its current name in 2003.
“The Playhouse on Rodney Square and The Grand Opera House – programmed, managed, and marketed together – will bring together the grand traditions of Broadway with the wide variety of musical and other artists featured at The Grand. We will truly be able to offer the best of both entertainment worlds,” said Mark Fields, executive director of The Grand.
DuPont said the sale will have no impact on the remainder of the 2014-2015 Broadway Season, theater subscription packages or ticket prices. Tickets for upcoming performances can still be purchased by calling the DuPont Theatre box office at 302-656-4401 or 800-338-0881. Information also is available at www.DupontTheatre.com. Once the transition is complete, The Grand will communicate directly to all patrons.
DuPont said the the theater, opened in 1913, is the oldest continually operating legitimate theatre in the nation
The Grand, built in 1871, was shuttered in the 1960s and restored in the 1970s, becoming “the preeminent regional venue for music, comedy, and family programs, complementing the theatrical focus of the DuPont Theatre,” according to DuPont’s announcement of the sale.