So this just popped up on craigslist:
The Clinton's got some of the most unique film booking in town, boasts long-running regular screenings of Rocky Horror and Repo! The Genetic Opera, and is home to the Filmed by Bike Festival and the Portland Underground Film Festival. Their programming's eclectic and frequently worth checking out—playing there now, for example, is a very good Jay Reatard documentary, and tomorrow The Descendants starts—and the theater has a long history of hosting screenings that just wouldn't happen in any other Portland theaters. (The first press screening I ever attended for the Mercury was at the Clinton, actually; it was old-timey porn.)
The last time I had an in-depth conversation with Seth Sontein, the Clinton's current owner, it sounded like he was planning on the Clinton being around for a while.
I've got a voicemail and an email in to Sonstein for more details, but I haven't heard back from him yet. I'll update this post when I do.