It was rumored yesterday that power couple Jay Z and Beyonce had acquired the New Regal Theater in Chicago.
The rumors were first published by GumBumper.com:
“Mega stars Jay Z and Beyonce have just purchased the old Regal Theatre on 79th Street in Chicago, Il., for a mere $250,000.”
A showcase for entertainers like Ella Fitzgerald and Nat King Cole since its inception as the Avalon Theater in 1927, recent years have not been kind to the Regal Theater. Some Chicago residents considered Beyonce and Jay Z saviors of the illustrious landmark.
Lee Bey of Chicago based radio station WBEZ, told Jet.com:
“To have a theater like this saved, preserved and have it active again would be wonderful for any neighborhood in Chicago, but for this neighborhood in particular it’s a win because it has its struggles.”
Alas, it was not to be.
The rumors were shot down almost immediately by several media sources including NBC Chicago who, according to the Huff Post, “spoke with ‘a source familiar with’ the theater’s pending sale who said the rumored celebrity purchase was inaccurate.”