Former Ricker Oil owners will pay off theater's mortgage

ANDERSON, Ind. (AP) - The former owners of Ricker Oil say they'll pay off the mortgage on a historic theater in central Indiana.

The Herald Bulletin reports that Jay and Nancy Ricker are creating a foundation, and the first beneficiary will be the 89-year-old Paramount Theatre in Anderson. More details will be announced Thursday.

The Rickers recently sold Ricker Oil to Giant Eagle of Pittsburgh. They had 56 gas stations and convenience stores, mostly in Indiana.

Nancy Ricker says she and her husband want to "continue to give back to the people" who supported their business.

The Paramount opened in 1929 with 1,700 seats. Sixty years later, in 1989, it was going to be demolished for a parking lot but was saved by Anderson community leaders.

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Information from: The Herald Bulletin, http://www.theheraldbulletin.com