Over the last few years, Charlotte has lost the Manor Theater, the Studio Movie Grill in the EpiCentre and the Regal Ballantyne Village. Now, because of new development plans, the Regal Phillips Place movie theater will eventually close, too.

Driving the news: Developer Lincoln Harris plans to rezone part of the high-end Phillips Place shopping center in SouthPark to make way for a 10-story office tower and parking structure where the Regal currently sits.

• The theater's lease runs through 2025, Regal spokesperson Richard Grover tells Axios.
• Of note: The Charlotte Ledger first reported news of the rezoning last week.

Why it matters: Together with the Phillips Place theater, the cinemas to close in Charlotte account for 22 screens.

• It's forcing Charlotteans to find entertainment elsewhere, be it at breweries, new retail spots or even on their devices at home.

Zoom out: The movie-theater industry was already grappling under pressure from streaming services like Netflix and HBO, combined with pandemic-driven closures nationwide.

• So studios started releasing films directly to on-demand outlets.
• Subscriptions soared for streaming services. Newcomers like Disney+, AppleTV and Paramount+ continue to gain momentum, all in an effort to catch up to Netflix's dominance, Axios' Sara Fischer writes.

What they're saying: "For me, the loss of cinema space is always a problem because where I come from ... when there aren't many screens for mainstream films, there are fewer for indie and international films," says Jay Morong, program director for the Charlotte Film Society and a film studies professor at UNC Charlotte.

Yes, but: The movie-theater industry has always been pivoting. Critics have worried about its decline since back when televisions became mainstream, Morong adds.

Full story: Movie theaters in Charlotte are disappearing

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• USAA is opening a Charlotte office, where it'll add about 750 jobs either onsite or in a hybrid model, CBJ first reported (🔒). The financial services company is leasing six floors at The Square in South End, the new building where Sauceman's used to be. Employees will start moving in by the end of 2021, per USAA.
• Printful is the latest Charlotte-based company to become a unicorn, a term for a private company with a valuation of over $1 billion. Founded in Latvia, the printing services company recently got a $130 million investment from private-equity firm Bregal Sagemount, WSJ reported (🔒).
• Aquesta Bank, based in Cornelius, is being sold to United Community Bank in a $131 million deal set to close later this year, CBJ writes (🔒).
• Harrah's Cherokee Casino, which opened one of the state's first two legal sports betting locations this spring, announced that it has opened a Wicked Weed Brewpub on its second floor.

ICYMI: Lowe's has been recognized as one of the Best Places to Work for LGBTQ+ Equality for the third year in a row. It even scored 100% on the Human Rights Campaign’s Corporate Equality Index.

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The Diocese of Charlotte is selling 73 acres at North Community House and Johnston roads, where a new public high school will occupy 54 acres, as the Charlotte Ledger first reported (🔒).

• The new high school will address overcrowding at Ardrey Kell and South Meck. CMS approved the $26M deal last week.
• Part of the property will be turned into a multifamily housing development.

Flashback: The Diocese bought the land in 1991 as a possible new home for a school or parish.