Jules Mastbaum, owner of a movie theater chain (The Stanley Company of America), acquired the building in 1925 and re-named it the Arena. In 1927 the Arena was purchased by Rudy Freed and Maurice Fishman who operated the facility until 1934, when the their partnership was placed in receivership. In 1929, Peter A. Tyrrell (1896–1973) joined the Arena as boxing matchmaker and subsequently became the facility’s publicist. In 1934 Tyrrell was named a friendly receiver-in-equity by George Welsh, a federal judge. Tyrrell became general manager of the Arena and served in that capacity until 1958, returning the corporation to profitability and enriching the variety of public entertainment.