The Theater of the Stars was originally located on Hollywood Boulevard in the space now occupied by the Hollywod Junction Tipboard and the entrance to Sunset Boulevard. When construction began on Sunset Boulevard the theater was relocated to the end of that street near the Hollywood Tower Hotel. The original theater hosted a number of shows. Around the opening of the studios it was "A Musical Salute To The Silver Screen Introducing The Disney Girls". It was also home to "Hollywood's Pretty Woman", "Dick Tracy Diamond Doublecross", and Beauty And The Beast" which continues to this day in the new theater.
I believe this shot is from passholder preview days for the Studio in April 1989.
I believe this and the rest of the pictures are of the Hollywood's Pretty Woman show.