It had been coming for a while and now it looks like the curtain is officially coming down on one of Ireland's oldest and biggest cinema screens.
The 760-seat auditorium is to be replaced with five smaller screens.
IMC, which owns the cinema, gave no comment on the reports despite assurances in January the screen size wouldn't be changing.
The screen was host to a number of high-profile film premieres, attended by major industry names including Steven Spielberg, Michael Fassbender, Richard Gere, Cate Blanchett, Will Ferrell, Colin Farrell, Tilda Swinton and Mark Wahlberg.
It is not yet known when the work on it will begin, but a number of planned events will have to be relocated or cancelled. The Savoy is also not accepting bookings for Star Wars: The Last Jedi, which opens on December 15.