Netflix officially closed their deal to acquire the Egyptian Theatre on Hollywood Boulevard and will team with the venue’s nonprofit American Cinematheque. Deadline first broke the news last August of the streamer’s interest in the Sid Grauman built venue.
The American Cinematheque organization, established in 1984 will remain a non-profit, with the organization’s curation team intact, and along with Netflix will continue to expand the cinema’s movie and event programming. Netflix will invest in the theatre’s renovation and will use the revitalized space for special events, screenings and premieres during the week. The Cinematheque will continue to program and operate a second historic theater, the Aero in Santa Monica.
Read more: http://deadline.com/2020/05/netflix-closes-deal-american-a-egyptian-theatre-1202946525/