A settlement has been reached over the dispute regarding ownership of the Fox Theatre.
Fox Associates and Foxland Inc. say they have reached a “mutually satisfactory” settlement in the case, which first went to court in April 2021.
Fox Associates, the current owners of the landmark theater on South Grand Boulevard, has been involved in a lawsuit with Foxland Inc. over which party has the right to own and operate the venue. Foxland owns the land where the theater sits and claimed that it was entitled to take over the Fox once its lease expires in 2025. Attorneys for Fox Associates instead appealed to St. Louis Circuit Court Judge Judge Michael Stelzer to allow the company to buy the property from Foxland at a fair price.
Since purchasing the theater more than 40 years ago, Fox Associates has paid Foxland $40,000 a year to lease the property, based on a 1926 lease that came with its sale. Under the ownership of Fox Associates, the theater has undergone major restoration and renovation over the years totaling approximately $10 million.
Under the agreement, Fox Associates will purchase Foxland’s interest in the land underlying the theater, consolidating its ownership. Both sides expressed the settlement “is the right result for the St. Louis community,” and ensure no interruptions for performances, concerts and other events at the Fox Theatre.
