In 1917, the administration of the Theatre Circo acquired the shares of the São Geraldo, selling the building to the Banco de Portugal. Between August 1919 and February 1920, the contractors closed the theatre in order to remodel the main hall. The first opera was sung in 1922. Three years later (January 1925), the rental contract came to maturity, and the Teatro Circo returned to direct administration by the Sociedade. In October 1927, the administrative council of the Teatro Circo ended its direct administration of the theatre, which passed to José Luís da Costa, a businessman from the Theatre Garrett in Póvoa de Varzim. As a result, in 1928, the first Portuguese cinema began appearing in the theatre, including Fátima Milagrosa and O Primo Basílio, and in October 1930, the first talking pictures, with the reel O Cantor Louco. In 1933, the theatre began running as a concession of José Luís da Costa's businesses, which brought different programs alternating between theatre, circus, cinema and musicals. On 21 April 1935, celebrations marking the 20th anniversary of the Theatre Circo was inaugurated. Similar festivities were celebrated on 21 April 1940, marking the silver anniversary of the institution, that include performances by tenor Ascenso de Siqueira Freire. Between 1943 and 1950, the prosperity of the theatre reached its peak, and were then followed by a period of remodelling in order to beautify the structure. A 1958 report presented at the general assembly suggested that there a feeling of crisis, with the introduction of television in local cafés. On 5 October, the Theatre Circo inaugurated the Hall of Cinema Estúdio. On 16 February 1983, the group of buildings along the Avenida da Liberdade, which included the Theatre Circo obtained the IGESPAR status of group of properties of public interest. Around July 1984, the CENA Companhia Profissional de Teatro de Braga is established, and in 1987, the group signed an accord with the Teatro Circo, to occupy space in the great hall. In 1988, the municipal council acquired the building of the Teatro Circo for 30,0000 contos. Around 2000, new remodelling under the supervision of Sérgio Borges (budgeted at around 2.6 million contos) with funds from European Union and Ministry of Culture (Rede Nacional de Teatros e Cine-Teatros and Rede Municipal de Espaços Culturais) partnerships: the rejuvenated Circo was re-inaugurated on 27 October 2006,with an expansion project, interior and exterior remodeling by Architect Sérgio Borges,