Protesters have gained new hope in their fight to save a historic movie theater in Parkchester.

The Bronx chapter of the National Action Network organized a rally Saturday in front of the historic American Theater on East Avenue.

The 74-year-old theater closed last September and is set to be turned into a Marshalls store.

Community groups have created a petition to save the theater and they have already collected hundreds of signatures. Now, a wealthy benefactor has offered to restore and run the theater if the company that owns Marshalls agrees to back off.

The Bronx chapter of the National Action Network says TJX, the corporation that owns Marshalls, is listening to the community's concerns.

Protesters say they are hoping the parties compromise on the situation, suggesting Marshalls can take over an available space next to the theater instead.