NEWS: Netflix in Talks to Buy Hollywood’s Egyptian Theatre From American Cinematheque1 min read
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Netflix is in early talks to buy the Egyptian Theatre in Hollywood from American Cinematheque in what would be the first movie theatre acquisition for the streaming giant.
The proposed deal would likely play out with Netflix programming on weekday nights while the non-profit Cinematheque would program screenings, lectures, and festivals on weekends. The transaction would not include the Aero Theatre in Santa Monica, Calif., which Cinematheque also programs. Additionally, it’s not expected that the deal will impact Netflix’s relationship with independent theatre chains that show its films such as Landmark and Ipic.
If the deal goes through, Netflix could use the Egyptian to premiere potential awards candidates. The company already has a smaller screening room in their Hollywood headquarters, less than two miles away.
Image credit: Max Malandrino
