×
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

  • Summer Box Office: 'Avengers: Endgame,' 'Lion

    Summer Box Office: Five Weekends to Watch

    Popcorn season is upon us, and it’ll be up to comic-book heroes, a wise-cracking genie, and a lion who would be king to ensure movie theaters are still the hottest place to spend the summer. Last summer, blockbusters like “Avengers: Infinity War,” “Jurassic World: Fallen Kingdom,” Ocean’s 8,” and “The Meg” drove moviegoers to their [...]

  • Critics Week

    Cannes Critics’ Week Unveils Its Lineup

    Lorcan Finnegan’s science-fiction thriller “Vivarium” with Jesse Eisenberg and Imogen Poots, Jérémy Clapin’s fantasy-filled animated feature “I Lost My Body,” and Hlynur Pálmason’s Icelandic drama “A White, White Day” are among the 11 films set to compete at Critics’ Week, the section dedicated to first and second films that runs parallel with the Cannes Film [...]

  • China Box Office: 'Wonder Park' Fails

    China Box Office: 'Wonder Park' Fails to Impress While 'P Storm' Rages On

    Even on one of the quietest weekends of the year, new U.S. animated release “Wonder Park” failed to inspire Chinese audiences as much as Hong Kong and Indian movies already in their third weekend in theaters. Starring the voice talents of Matthew Broderick, Jennifer Garner, Mila Kunis, and Ken Jeong, among many others, the film [...]

  • David Picker dead

    David Picker, Studio Chief Who Acquired James Bond Novels for UA, Dies at 87

    David Picker, who headed United Artists, Paramount and Columbia’s motion picture divisions and was known for forging relationships with groundbreaking filmmakers and material, died Saturday in New York. He was 87 and had been suffering from colon cancer. MGM tweeted, “We are saddened to hear that a member of the United Artists family has passed [...]

  • Abigail Disney on Bob Iger

    Abigail Disney Calls Bob Iger's $65 Million Compensation 'Insane'

    Disney chairman-CEO Bob Iger’s total compensation for Disney’s fiscal 2018 was a whopping $65.6 million. Abigail Disney, the granddaughter of Disney co-founder Roy Disney, calls that sum “insane.”  While speaking at the Fast Company Impact Council, the filmmaker and philanthropist insisted that this level of corporate payout has a “corrosive effect on society.” Disney took [...]

  • 'Curse of La Llorona' Tops International

    'Curse of La Llorona' Tops International Box Office With $30 Million

    Warner Bros. and New Line’s “The Curse of La Llorona” led the way at the international box office, summoning $30 million when it opened in 71 foreign markets. The supernatural thriller collected $26.5 million in North America for a global start of $56.5 million. “La Llorona,” based on the Mexican folklore about the Weeping Woman, [...]

  • Box Office: 'Curse of La Llorona'

    Box Office: 'Curse of La Llorona' Wins Worst Easter Weekend in Over a Decade

    Warner Bros. and New Line’s “The Curse of La Llorona” ascended to the top of domestic box office charts, conjuring $26.5 million when it opened in 3,372 North American theaters. “La Llorona” is the latest horror movie to outperform expectations, further cementing the genre as one of the most reliable box office draws. Even so, [...]

More From Our Brands

Access exclusive content