Laemmle, a popular programmer of independent movies, was "unable to come to terms with the landlord on a new lease," the Times reported.
The news comes as construction on the on Lankershim Boulevard in the NoHo Arts District is getting close to completion. The 34,000 square-foot NoHo 7 movie house will include a ground-level restaurant and is slated to open in December.
Laemmle will vacate the Sunset 5 complex at the end of the month, and Robert Redford's Sundance Cinemas will take over. Plans call for the theater to close temporarily for renovation and reopen in late spring.
“This can be seen as ultimately being in the best interests of Laemmle Theatres,” said majority owner Robert Laemmle, according to Indiewire.com. “When it came time to renew our lease on the Sunset 5, it became apparent that the time had come to focus Laemmle’s resources elsewhere.”
The Sunset 5 movie house, which borders Hollywood and West Hollywood, has long been a popular place to view independent films, and the NoHo 7 also plans to screen many independent films.