Small theatres are dying, with the rise of newer, more 3d, more loud theatres, they just can't survive.
One of my favourite theatres in this valley just announced it will be finally closing this year. (It's the one in the picture above).
It opened in 1949 and aside from an upgrade to convert two cinemas into one larger screen, it's stayed going since.
Over the past few years, thanks to being near three large multiplex theatres, two of which are owned by the same company, this theatre has survived by mostly playing indie style movies mixed with some more popular movies after they came out.
It's now been sold and the new owners have plans for it that don't involve a movie theatre. Talk is most likely a restaurant of some sort.
When I first moved to Kelowna in 2000, that theatre was the closest to where I lived at the time, and I took in many movies there, it'll be sad to see it go, but interesting to see what will come next.