In 1928 the Shubert family became the sole owners of the theatre, and it was once again named the Grand Opera House. It continued under this name into the early 1940s.

The theatre was purchased by RKO Pictures and remodeled and reconstructed again; this time with the purpose of changing the theatre into a movie palace to showcase RKO's films. It reopened as the RKO Grand Theatre in 1942. The theatre closed in March 1958 and was later demolished in May 1962