Baker said while real estate records indicate the nearly 50-year-old site is up for sale at $1.5 million, he does not intend to part with the puppetry showcase anytime in the near future, the Los Angeles Times reported Saturday.

"I've got too many things planned," said Baker, who founded the children's theater in 1963. "I'm not quitting now."

"We are not going out of business. We are not selling the building."

But Anthony Esguerra of Keller Williams Realty claims the theater has been put up for sale after years of enduring declining attendance figures.

A theater manager also alleged in a distributed e-mail that Baker had been the victim of fraud and asked all Marionette supporters to come to the 84-year-old man's aid.

The Times said the theater conducts puppet shows for children using specially made puppets that cost at least $1,000 a piece and take up to 350 hours to build.