In the works for over a year, Netflix has now finalised a deal to buy the historic Egyptian Theatre in Los Angeles for an undisclosed price.
The streaming giant announced Friday that the Egyptian will remain the home of the American Cinematheque and the organization’s curation team will continue to autonomously program content over the weekend. Netflix is investing in the theatre’s renovation and will use the facility for special events and screenings during the week.
Scott Stuber, head of Netflix Films says in a statement: “We’re honored to partner with the American Cinematheque to preserve the theater’s storied legacy and continue providing remarkable film experiences for audiences. We look forward to expanding programming at the theater in ways that will benefit both cinema lovers and the community.”
The Egyptian Theatre was retrofitted in 2016 to begin screening 35mm nitrate film – making it one of only four theaters in the United States capable of showing the fragile film stock.
Source: Variety
