Lest I continue to offend Henrico County public schools graduate, and my inside source at the Virginia Historical Society, let me share his take on the Westhampton:
The Times-Disgrace quotes Dick Westerling, Sr. VP of Marketing for Regal Entertainment Group, as saying "his is a viable location for us, and we've made some capital expenditures to upgrade the facility-- new carpeting, new concession stand. The cash flow is positive...." and that although Westhampton is not typical of Regal's theatres, they do have "some complexes with a 'lower screen count, that are successful and profitable.' "
My guess is that they're looking to sell the place to someone like the 501c(3) that now operates the Byrd, or a for-profit that's willing to accept a poorer-than-average return on their investment in return for the satisfaction of operating an art-movie-house. Alternately, they may just want to boost awareness of their theatre, without having to pay for advertising. Either way, I don't see them closing the Westhampton in the immediate future. Huzzah!