The announcement was made over the weekend and locals are taking the news of the theater's closure pretty hard.
The Cameo Theatre opened its doors on September 8, 1949 and people still remember its original owner, W. P. Florence, and how he made it a special place.
"It kind of stood for something, " says Kim Newell, a long time magnolia resident. "When Mr. Florence when he was alive and ran it you could send your kids and he would watch after them,"
The Cameo Theatre is Magnolia's only theatre in town, so, from now on, people there will have to travel 45 minutes to a theatre in El Dorado if they want to catch a movie.
There's no official word as to why the Cameo Theatre is closing. The last day of business will be August 12th.