×
You will be redirected back to your article in seconds

Netflix in Talks to Buy Hollywood’s Egyptian Theatre From American Cinematheque

Netflix is in early talks to buy the Egyptian Theatre in Hollywood from American Cinematheque in what would be the first movie theater 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 Theater in Santa Monica, Calif., which Cinematheque also programs. Additionally, it’s not expected that the deal will impact Netflix’s relationship with independent theater 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. American Cinematheque had no comment.

The Egyptian Theatre was opened in 1922 by Sid Grauman on Hollywood Boulevard, just east of McCadden Place. The facility has an ornate style evoking ancient Egypt with an open-air courtyard. The stage is flanked by carved columns and models of the Sphinx. The Egyptian launched with the premiere of “Robin Hood,” starring Douglas Fairbanks, Wallace Beery, Sam De Grasse, Enid Bennett, and Alan Hale.

The facility was closed in 1992 and the American Cinematheque purchased the Egyptian from the city for $1 with the provision “that this historical landmark would be restored to its original grandeur and re-opened as a movie theatre showcasing the organization’s celebrated public programming.” It was re-opened in 1998 after Cinematheque completed a $12.8 million renovation.

The Egyptian specializes in revival showings such as an upcoming program of the Marx Brothers comedies “A Day at the Races” and “A Night at the Opera” with an introduction by authors Robert Bader and Josh Frank.

Netflix chief content officer Ted Sarandos is a board member of American Cinematheque. Sources said he is recusing himself from the negotiations. The news was first reported by Deadline Hollywood.

More Film

  • Easy Money

    Netflix Orders 'Snabba Cash' Series Based on Hit Movie Franchise from SF Studios

    Netflix has ordered a six-part original series based on the hit Swedish crime franchise “Snabba Cash” from SF Studios. Based on Jens Lapidus’s bestselling novels, the series is set in Stockholm’s gritty criminal underground ten years after the events depicted in the “Snabba Cash” (“Easy Money,” pictured) movie trilogy. The society has become even more [...]

  • The Kings Man

    Film News Roundup: Disney Sets 'The King's Man' Spy Comedy for February

    In today’s film news roundup, “The King’s Man” and “A Kid From Coney Island” get release dates, and “Barry” star Anthony Carrigan joins “Bill & Ted Face the Music.” RELEASE DATE Disney has set its Fox spy comedy prequel “The King’s Man” for release on Feb. 14, 2020. Disney made the announcement Wednesday at its [...]

  • Shyrakshy: Guardian of the Light

    Shanghai Film Review: 'Shyrakshy: Guardian of the Light'

    The bombastic English title might sound like it describes some comic book sci-fi epic, but in “Shyrakshy: Guardian of the Light” our hero does not wear a cape but a weathered cap, and the light he guards is not an interstellar death ray but the flickering beam of a battered old movie projector. Prominent Kazakh [...]

  • Wanda Film's Zeng Maojun

    Shanghai: China's Once-Mighty Wanda Casts Itself in Role of Survivor

    The soundtrack for the introductory showreel at Wednesday evening’s Shanghai press event announcing Wanda Pictures’ annual line-up was aspirational and strangely defiant.  It began with Nina Simone crooning, “It’s a new dawn, it’s a new day, it’s a new life for me, and I’m feeling good,” and then continued with “Survivor” by Destiny’s Child. “You [...]

  • 'The Souvenir' Costume Designer Fashioned 1980s'

    'The Souvenir' Costume Designer Put a Decadent Twist on Opulent ’80s Style

    Set against the backdrop of London’s early-1980s cultural renaissance, British auteur Joanna Hogg’s exquisitely sculpted and critically acclaimed “The Souvenir,” which A24 has been widening in platform release for the past month, follows film student Julie (Honor Swinton Byrne) and her gradually destructive romance with the magnetic Anthony (Tom Burke). “We didn’t want a film [...]

  • Anne Hathaway

    Crew Member Stabbed on Set of Anne Hathaway's 'The Witches' in England

    A crew member has been stabbed in the neck on the set of Anne Hathaway’s “The Witches” remake, which is being shot at the Warner Bros. Studios stages in Leavesden, Hertfordshire. The Hertfordshire Constabulary said in a statement that the victim was hospitalized and his alleged attacker was arrested. The two men are believed to [...]

  • paranormal-activity-1

    Paramount, Blumhouse Announce Seventh 'Paranormal Activity' Movie

    Paramount Pictures and Jason Blum’s Blumhouse are teaming on a seventh “Paranormal Activity” movie. Paramount chief Jim Gianopulos announced the untitled project Wednesday during the studio’s CineEurope presentation in Barcelona. Plot details are also under wraps. The franchise was launched with 2007’s “Paranormal Activity,” a micro-budget film about a young couple who had who moved [...]

More From Our Brands

Access exclusive content