Update February 20: The Post and Courier has a follow with some additional details about the sale; read it here.
First reporting: Michael Furlinger and John Brieger are selling the Terrace Theater on James Island to Paul Brown and Barbara Tranter. The pair owns the Aurora Theatre in East Aurora, New York.
It's not currently known how or if this will change the types of films shown (though we have an e-mail in and the release state that the new owners "will continue the Terrace tradition") at the theater; also the Terrace has said they will continue to operate downtown's Terrace Hippodrome under the name of the Hippodrome.
Here's the full release:
AWARD WINNING THEATRE TO BE SOLD TO AWARD WINNING FILMMAKERS
It is with great thanks and appreciation to our patrons that I would like to announce the sale of the Terrace Theater on James Island. For the last three years it has been our pleasure serving the Charleston movie going public. Over this time we have seen the theater grow to one of the most prominent movie theaters in the state. I feel the time is now right to pass the torch. John and I are please to introduce you the new owners Paul Brown and Barbara Tranter. Paul, Barbara and there son Sam are relocating to Charleston to continue offering the best movie going experience possible. Both are accomplished film makers and movie theater operators. I trust the Terrace will be in good hands. Barbrara and Paul will continue the Terrace tradition.
John Brieger and I will continue to operate South Carolinas premiere first run cinema down town under the new name the Hippodrome. The Terrace and the Hippodrome will continue to work together on the Charleston Film Festival!
It has been a pleasure making the Terrace Theater the best movie theater in Charleston. We could have not done it without you, our loyal customers.
We have lots of new business ventures for Charleston to be announce in the near future..
Terrace Theater Cinemas Inc.