Netflix is truly expanding its brand beyond just streaming and making movies. The service is in talks to acquire the famed Grauman’s Egyptian Theatre in Hollywood which give Netflix another physical theater to show its films. However, the move would also help a struggling but historic theater stay open.
It’s been reported by Deadline that Netflix is working with the non-profit organization, American Cinematheque, to buy the theater located on Hollywood Boulevard. This reported deal, which is said to be in the tens of millions of dollars, would be a partnership between Netflix and the Cinematheque, which has been going through financial issues in recent years. With this agreement, Netflix could host screenings on weekdays while the Cinematheque runs screenings, lectures and occasional festivals on weekends. Netflix would also be able to host special screenings and events for major movie launches, while the Cinematheque could expand its programming with the money obtained if the deal goes through. The organization will also still have screenings at the Aero Theatre in Santa Monica.
A Hollywood Landmark
The Egyptian Theatre was opened by “Hollywood’s Master Showman” Sid Grauman in 1922. The theater hosted Hollywood’s very first movie premiere that same year, showing the silent film, Robin Hood, which was directed by Allan Dwan. The theatre itself could be described as a luxurious Egyptian palace, with specific designs and decorating that resemble a pharaoh’s residence. In addition to its film screenings, the Egyptian Theatre has been the stage for performances by legends like Lawrence Welk, BB King, Jay Leno, Ray Charles, and Wynton Marsalis.
This move by Netflix wouldn’t just impact the company financially. It would also help to preserve a staple in the Hollywood community, one that has been around for nearly 100 years. Though the convenience of streaming movies is beginning to reign supreme, many film enthusiasts and critics enjoy going to theaters and respect the history of classic buildings like this one. The Netflix-Cinematheque negotiations between Netflix and the Cinematheque will not be finalized until issues involving real estate and city permits are resolved. However, the company is hopeful that an agreement will be reached soon.
UFOs And The U.S. Presidents: Alien Cover-Ups That Have Been Swept Under The Rug Of The Oval Office
Shady things have taken place in the White House for centuries, but the biggest unsolved mystery by far is the possible cover-up of extra-terrestrial life. Thousands of UFO sightings have taken place over the years, before quickly getting swept under the rug by certain U.S. presidents. However, now it’s time to put all the pieces together – from alien abductions, to experimental testing, to some shocking information that only recently saw the light of day.
The Most Overrated Rock Bands Of All Time – Ranked By How Overrated They Are
These world-renowned classic rock bands have ridden the coattails of generic universal praise for far too long. With their passionate vocals and piercing guitars, they all found their unique voice in the music industry. But just because they found their voice doesn’t mean they’re actually as good as people say they are. We apologize in advance, because your favorite band might actually be overrated too.
The Incredible Transformations Of These My 600 Pound Life Participants Will Leave You In Awe
Shows like My 600-LB Life strive to give viewers a look at the triumphs, setbacks, and small victories of these participants. Under the watchful eye of Dr. Nowzaradan, these patients have put in the hard work to reach their health goals. Check out our list of the most incredible transformations of My 600-LB Life.