Theater Entrepreneurs (Walsh's & Miller's)
Nearly two decades of a successful management and direction under ‘Prudential Theaters’, the Village Roadshow Corporation entered into a prudential partnership in 1982. The following year the Capitol theater when though a refurbishment stage that included brand new carpeting, new seating, new screen and a new sophisticated Dolby Surround system. After the refurbishment, the Village Theater Group took the ownership and they were in control till they opened their own Mulitplex Cinema in Bourke Street (Navaretti, P 2000).
Natallie Miller was just quoted saying “Melbourne is ready for more quality films” from her trip back from Cannes. She announce that Michael Walsh and her are thinking of leasing the Melbourne Capitol theater as to showcase the films on offer at film festivals. Natalie is an entrepreneur in the making, buying and selling of Australian movies. She already has a lease on the Longford (South Yarra) in partnership with Michael. He is also another entrepreneur who showcases film festival movies at the Brighton Bay, Academy In Paddington (Sydney) as well as in three Canberra cinemas (Herald Sun Victoria June 18, 1987).
In 1987, Mike and Maria Walsh together with Henry and Natalie Miller managed to obtain a lease of the Capitol Theater. When the Melbourne Capitol Theater was purchased by these four directors, they stated that “if a film is to be shown at the Capitol, then it is a good film”. From the start of their lease, they worked hard to maintain a standard of excellence. This was clearly outlined when they screen Australians writer David William’s play, “Traveling North” (Navaretti, P 2000).
The success under these four directors caught the eye of the Melbourne Chinese Theater Group. They managed to sub-let the theater in 1992. But the inventions of suburban multiplex cinema's withdrew most of the audiences out of the city, Melbourne Capitol Theater was one of the hardest hit. It was soon apparent that it was very unprofitable to show films in a single screen cinema. Imported Chinese movies continued to be show for 5 years but the poor attendance to the Capitol Theater continued (Navaretti, P 2000).
By 1998, the single screening movies became so unpopular the Capitol Theater was only operated only for festivals such as ‘Art Film’ festival, the annual Melbourne Film Festival and the Melbourne Comedy festival (Navaretti, P 2000).
November that same year, the theater was ‘strata titled’ and up for sale as Mike Walsh’s lease expired. Strata titled meant that approval for this sale need to be obtained from Heritage Victoria. The Strata titled included all the surviving foyer spaces from the original theater. Theses foyer’s were inaccessible as these spaces where separated from the cinema since 1965. This made the sale even more complicated (Navaretti, P 2000).
