February 21st, 2014

Marquee to be unveiled for Va theater bearing cigarette maker Altria Group name

By AP
The Republic

RICHMOND, Virginia — Officials are set to unveil the new marquee and announce the renaming of Richmond’s Landmark Theater to Altria Theater.
The event is scheduled to take place Friday morning at the historic theater that opened in 1927.

Marlboro maker Altria Group Inc. bought the naming rights of the theater in its headquarters city of Richmond for $10 million in 2012. Altria owns the nation’s biggest cigarette maker, Philip Morris USA.
The agreement will be in effect for 20 years. The deal was a key piece of financing for the theater’s $60 million renovation using city funding, tax credits and other private donations. Work is set to be completed in October.

Read more: http://www.therepublic.com/view/story/a997d3a7743b4914bed5942a20e5e157/VA--Altria-Group-Theater-Naming-Rights


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