 Paisley quickly offered to buy the Princess , and reached an agreement with the Old Strathcona Foundation in October 1994 for an unspecified amount . The banks , however , refused to finance Paisley ’ s plan and the deal fell through in December . The Old Strathcona Foundation quickly pivoted , and attempted in early 1995 to transfer control of the cinema to the Princess Theatre Society , “ a small board made up of film experts and business people ” including Paisley . 
