The Orpheum Theatre, which has not been open to the public since last summer after losing its liquor license, could potentially reopen in December under new management.

According to Frank Productions spokesperson Charlie Goldstone, the attorney receiver contacted Frank Productions to manage the Orpheum, and the company signed the contract Wednesday. He said Frank Productions would be essentially running the Orpheum on behalf of the bank that has owned and operated it since it shut down last summer.

Goldstone said Frank Productions will eventually bid on purchasing the Orpheum in eight to 12 months once the foreclosure takes place. He said Frank Productions has been promoting shows in the Orpheum most likely longer than anyone in Madison and has been pursuing to operate it for several years.

“We feel pretty good about it,” Goldstone said. “We’ve always had an interest in operating the Orpheum. Operating it for about a year will give us a really good idea of what the value and potential of the theater is.”

Ald. Mike Verveer, District 4, said Frank Productions applied for a liquor license with the city Tuesday, which will be heard at an Alcohol License Review Committee meeting in November. He added the theater has not had its liquor license since July 1.

He said assuming the license is granted, Frank Productions hopes to reopen the venue to the public in December.

Verveer said the Monona State Bank signed an agreement to own and operate the Orpheum since it shut down last summer. He said the bank filed a foreclosure action several weeks ago in Dane County Circuit Court, claiming the previous owners of the theater did not keep current with their mortgage payments.

The previous owners of the venue had a sour relationship for a long time, which led to the crisis it experienced last summer, according to Verveer.

The venue has not been open to the public whatsoever since it lost its liquor license other than an occasional wedding reception, Verveer said.

President of Capitol Neighborhoods Inc. Davy Mayer, an adviser to The Badger Herald’s Board of Directors, said the Orpheum will not operate as a restaurant or bar unless there is a show going on once it reopens. He said it likely will not show movies, with the potential exception of the Wisconsin Film Festival, and will serve primarily as a concert venue.

There are other companies and promoters that have expressed interest in ownership, but it is unknown how serious they are about it, Goldstone said.

Goldstone also said Frank Productions has been promoting shows in Madison for more than 40 years and the Orpheum has been around much longer, giving them both a long-standing history with the city.

“We view it as a great opportunity to turn lights back on in the Orpheum and restore it to what it should be,” Goldstone said.

Verveer said the Orpheum is a tremendous resource to the community and to students at the University of Wisconsin campus in particular.

UW student organizations have performed at the Orpheum repeatedly over the years, along with the UW men’s a cappella group MadHatters, Verveer added.

“I’m thrilled the Orpheum likely will have its lights on again and the doors will be open to the community as they have been for decades,” Verveer said. “The Orpheum is a true gem. It’s an absolute landmark institution in Madison and it has been really painful to see it slowly deteriorate.”