The first Globe was a direct descendant of England's first playhouse, the Theatre. In fact, the actual timbers of the Theatre would eventually become the timbers of the Globe. The Theatre was built in 1576 by James Burbage. In its twenty-two year life, it hosted most of London's playing companies, including Shakespeare's, the Lord Chamberlain's men. Burbage died in 1597, and his sons failed to renew his lease. So, they tore the Theatre down, and moved the timbers from London's North Bank to the South Bank, where they helped furnish the building of the first Globe. The first Globe was financed by a share-holding partnership between Burbage's sons Cuthbert and Richard and five actors, William Shakespeare, John Heminges, Augustine Philips, Thomas Pope, and William Kempe. It was built by Peter Streete in the Spring of 1599. The Globe was so handsome that Philip Henslowe and Edward Alleyn not only employed the same architect to build the Fortune, but they demanded that their theatre should be like the Globe in every important respect except its shape. Bolstered by having England's foremost dramatist, Shakespeare, and England's foremost actor, Richard Burbage, in its troupe, the Globe enjoyed the most prominent position in London theatre. King James himself would show his preference for the Globe's players by conferring the title of the King's Men in 1603. By 1609, the company had begun to divide its time between the Globe and the Blackfriars. On June 29, 1613 the Globe caught fire during a performance of Henry VIII. A mishap during the firing of two cannons sparked the blaze, and the theatre was burned to the ground. By mid 1614, the second Globe had been constructed on the site of the original. The theatre was build at a cost of 1,400 pounds by a new partnership of shareholders. Cuthbert and James Burbage, Shakespeare, and Heminges remained; Henry Condell, William Ostler and John Underwood replaced the deceased Kempe, Philips and Pope . The new theatre continued to host the most popular players and playwrights of the day. Operation continued beyond Shakespeare's death in 1616. However, in 1642 the theatres of London were closed by Parliament. By 1644 the Globe had been replaced by housing. -- Dominic Carlone, 1999