Complex sentence: On 31 December 1917 William Elliott, Comstock, and Gest announced that they had leased the Century Theatre and would transfer "Chu Chin Chow" there in January 1918.
Split into simpler sentences: On 31 December 1917 William Elliott, Comstock, and Gest announced that they had leased the Century Theatre. They would present "Chu Chin Chow" there in January 1918.