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The theater entrance faces westward on the north end of what is now the Jackson Medical Mall. Last time I was there a few years back the theater was fully intact, large curved Cinemascope screen and all. It was being leased and operated by the University of Mississippi Medical Center as a large meeting/conference space. No movies being shown there and the manager thought it highly unlikely there ever would be unless the film somehow was related to the educational and healthcare mission of UMMC.
Not evidently open as of June, 2014. I just drove by there. No Sign. The front doors are boarded up. You have to drive through two imposing barbed wire gates to even get there. There was a construction permit notice attached out front, so hopefully something is being planned. It was my understanding that when the former McCarty Holman supermarket chain bought the theater three of the four auditoriums were reconfigured as office space. I was told the fourth auditorium was saved as a large meeting/conference room. Not sure how accurate any of that is.