Netflix has officially acquired Hollywood’s iconic Egyptian Theatre after reports nearly a year ago that it was interested in the iconic Egyptian Theatre, according tomedia slash Gear. Netflix will renovate the theater and use it for special screenings, etc., to breathe new life into the facility. American Cinematheque, a non-profit organization that reopened the Egyptian theatre in 1998, will reportedly partner with Netflix.
The Egyptian Theatre, one of Hollywood’s landmarks, was built in 1922 and was originally the site of the industry’s first silent film, including the premiere of the classic Robin Hood. The theater was renovated by the American Academy of Motion Picture Technology and reopened in 1998 and has remained in operation ever since.
Back in August 2019, Deadline had said that Netflix was in talks to buy the theater, even though it was only preliminary. In its latest report on the matter, the publication said Netflix had finalized its acquisition of the Egyptian theater and that American Cinematheque would remain a non-profit.
Netflix will reportedly revamp the theater and use it for weekly premieres and screenings, as well as special film events. Scott Stuber of Netflix Studios said in a statement that the company, in partnership with the nonprofit, “will preserve the theater’s legacy and continue to provide an exceptional cinematic experience for audiences.”
This isn’t the first time Netflix has set its sights on iconic theaters. By the end of 2019, the company will lease the Paris Theatre, New York City’s iconic single-screen theater. The theater closed decades ago, but has been revitalised by Netflix as a destination for some of its original films.