It's been said that were the Paramount Theatre in San Francisco to require a new name, it might well be called the Paradox, for its history is studded with contradictions. Built in 1925, at a cost of US$3 million ($4.45 million), it was one of America's grandest motion-picture palaces, seating 3476 in a large, decorative and very exotic space designed especially for the "movies" and the stage pageantry that generally accompanied them.
The grand opening night was December 16, 1931, which brought out a gaggle of San Francisco's social elite, along with the American actress Kay Francis who was the star of The False Madonna, the movie that screened that night. Then in June of 1932 disaster struck, Paramount closed its doors, unable to meet the weekly operating cost of around $27,000.
In 1971, the Paramount was boarded up and rumours were the wrecking ball was waiting in the wings to demolish this grand old Art Deco lady.
In 1972, the Oakland Symphony orchestra came to its rescue, and bought the Paramount Theatre for $1 million as their new home. The orchestra also set it up as a performing arts centre for the San Francisco Bay Area, and in 1973 a full and authentic restoration was completed. Two years later, the Oakland Symphony Orchestra went bankrupt and gave the Paramount to the City of Oakland for $1, with the stipulation of guaranteed bookings for the next 40 years.