Power Moves: Netflix Is In Negotiations To Buy Hollywood's Historic Egyptian Theatre

April 11th 2019
Netflix is reportedly in talks to acquire Hollywood's famous Egyptian Theatre. The streaming giant is currently in early talks with American Cinematheque to acquire the famed movie palace. The deal is said to be around tens of millions of dollars. The theater, built by Sid Grauman in the 1920s, has been the location of various movie premieres. Sources are saying that the deal between Netflix and American Cinematheque will be a partnership. The streaming giant will reportedly utilize the Egyptian as the place for special screenings, as well as premieres for huge movie launches and most anticipated movies. The news surrounding Netflix and American Cinematheque comes at a time when the streaming giant has been the subject of conversation. Last month, it was reported that Steven Spielberg, a board member of the Academy of Motion Picture Arts and Sciences, was planning to push for a rule change that would prohibit films released on Netflix or have a limited theater run from contending for Oscars. In recent years, the streaming giant has seen films such as Mudbound and Roma garner several Oscar nominations. The latter took home the Academy Award for Best Foreign Language Film, Cinematography and Best Director for Alfonso Cuaron at the 91st Academy Awards in February. READ MORE: DOJ Warns Academy About Potential Rules Excluding Streaming From Oscars Report: Netflix Looking To Buy Movie Theaters To Increase Oscar Chances   Photo by John M. Heller/Getty Images
by Jordan Simon on April 11th 2019

{{comments.length || 0}} COMMENTS

SORT BY:

Logged in as {{userdata.display_name || "Shadow&Act"}} | Log out?
POST COMMENT
Log in to join the conversation!
{{c.wp_author || c._author.username}} / {{c.created_at_gmt | date:'medium'}}
CANCEL REPLY |

{{c.body}}

POST REPLY
{{r1.wp_author || r1._author.username}} / {{r1.created_at_gmt | date:'medium'}}
CANCEL REPLY |

{{r1.body}}

POST REPLY
{{r2.wp_author || r2._author.username}} / {{r2.created_at_gmt | date:'medium'}}
CANCEL REPLY |
{{r2.body}}
POST REPLY

TRENDING