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Source: Jim Fahlstedt
Accurate information from one who was there. The Savoy was owned by Emmit Goodrich and later his son, Robert. It always was the orphan stepsister downtown as the Butterfield and RKO (and later Loeks) houses got the first class flicks. The Goodriches, however, ran a pretty classy operation and managed to outlast almost all the downtown theaters.
As mentioned in another post, they did very well with what at the time were called Sepia features. These were black films, most made by independent studios, but some by name studios. They were not at all like the later Blaxploitation films. They did a good business and provided the African-American community a high quality of entertainment. I remember taking my first wife to the Savoy in the late 70s to see some supposedly high quality adult film. She was not amused.