Netflix Buys Hollywood Pass
As soon as the drama "Roma" won three gold statuettes at the 91st Oscars, the debate flared up in Hollywood over whether to allow pictures of online services to participate in the struggle for the main cinematic awards in the world. The Netflix corporation has decided to protect itself from attacks from critics who claim that its films are not intended for the big screen. As it became known, the leader of the global streaming industry is negotiating the acquisition of the famous Los Angeles cinema Egyptian Theater.One of the main attractions of the Dream Factory was built in 1922. In the same year, the owners of the Egyptian theater organized the first large-scale film premiere in the history of Hollywood, inviting the stars of the adventure film "Robin Hood" to the red carpet. In the mid-90s, the Egyptian Theater faced serious financial problems. As a result, the Los Angeles authorities transferred it into the possession of the American Cinematheque organization for a symbolic amount of $ 1. A potential deal between Netflix and American Cinematheque promises a lot of dividends for everyone involved. The current owners of the building will earn a fortune that they can spend on continuing the good mission of preserving the world's film heritage. Netflix, in turn, will have an ideal venue for presenting new films and TV series. In addition, the presence of its own cinema will allow the online service to fulfill the requirement of the American Academy of Motion Picture Arts and Sciences, according to which each participant in the Oscar race must get at least a limited rental in Los Angeles. Previously, Netflix had to rent rooms from Landmark and iPic to comply with this rule.  The residents and authorities of Los Angeles will also benefit from the deal, as Netflix will most likely restore and modernize one of the oldest cinemas in Hollywood. Source: Deadline The Topic of Article: Netflix Buys Hollywood Pass. |
