SAN FRANCISCO (KRON) -- The rumors, it appears, were true. Two days after beloved San Francisco music venue Bottom of the Hill posted a cryptic social media update about a "new era" and the venue not being "done rockin'," the Bottom of the Hill confirmed Thursday it had been sold and would carry on as a music venue. Earlier this year, the venue announced it would close for good at the end of the year. However, on Thursday, the long-time Potrero Hill music venue posted another update, sharing a story from local music journalist Emma Silvers in local independent outlet, Coyote Media. ‘Nightmare’: AI agents spark security concerns at major US banks, report says "We gave Coyote Media, who reminds us of the good old SF Bay Guardian (RIP), and in particular Emma Silvers, our favorite local reporters, the exclusive about the good news about our sale," BOTH wrote on Facebook. "After all, we made her break the news or our closure -- she deserved the better story, too!" The post linked out to Silvers' exclusive story, confirming that the "San Francisco music venue will live on under new ownership" next year. As previously reported, the club's longtime owners Kathleen Owen, Ramona Downey and Lynn Schwarz are stepping away from the club at the end of the year. However, rather than let the venerate venue go dark, a new proprietor, Michele Bronson, has stepped in to keep it going. Owen and Downey, according to the report, will retain ownership of the 115-year-old Edwardian building that houses the club. But Bronson, a passionate music fan and veteran of the biotech industry, has purchased the club as a business "name intact," the story confirms. Bronson, who has reportedly been a regular at the club since the early 1990s, is making her first foray into the live music business. Bronson also reportedly plans to retain the club's entire staff with about half of its 19 employees planning to stay on. Bottom of the Hill's just-announced New Year's Eve show with Shannon Shaw of Shannon and the Clams will be the last under the current ownership. After that, Bronson reportedly plans to close it for a month to make upgrades to the kitchen and bar before reopening. Updates to the website and ticketing system are also planned, according to the Coyote Media story. Bronson's lease of the venue, which is structured as three five-year terms, goes into effect on Jan. 1, 2027. Bronson told the outlet she intends to preserve the venue's existing feel and character. “One of the amazing things that Bottom of the Hill has always done is make sure local bands are on the bills,” says Bronson. “They truly support the local music scene," adding the small venues like BOTH, "keep the music ecosystem going." The venue's current owners said that while they were originally of a mind to not sell the business and bring the curtain down on the venue's 35-year history, a "tidal wave of reactions" persuaded them to change their minds. “We started to think, hmm, maybe we’re not that special,” said Schwarz. “Maybe we can let someone else take on this legacy.” ...read more read less