Madison’s Orpheum Purchased

Gus Paras was involved in an unrelated deal with previous co-owner Eric Fleming, who owed Paras $1 million after that deal went south.

By forgiving the debt, Paras was able to buy Fleming’s half-share in the theatre for $1.7 million, according to The Isthmus.

The Orpheum has been at the center of a long-running power struggle. Fleming was brought in as a business partner in 2003 by Henry Doane, who purchased it in 1999.

The partners ended up entangled in lawsuits over control of the Orpheum and, last year, a dispute with Madison’s alcohol commission.

The 2,000-capacity theatre was eventually foreclosed upon after losing its liquor license and facing financial difficulties.

A receiver appointed Frank Productions to manage the venue in the meantime, and which still has shows booked there.

Paras told the Isthmus he hopes a deal can be made with Frank Productions to continue using the venue. “I’m going to cooperate with everybody,” he told the paper. “I have a feeling it will be no problem.”

The Orpheum is in need of repairs, including replacement of the roof, a boiler and air conditioning system.

Paras said he would like to add a basement kitchen for catering and special events, restore the marquee and upgrade lighting and sound systems.