Netflix Completes Acquisition of Historic Cinema
The streaming service Netflix has finalized the legal deal to acquire the historic Hollywood movie theater Egyptian Theater. As noted by the Variety edition, the final transactions were carried out, the amount the company paid for the purchase is not disclosed. "Egyptian Theater" is an incredible part of Hollywood history, it has been valued in the Los Angeles movie community for almost a century. We are honored to partner with the American Cinematheque to preserve the cinema's legendary heritage and continue to provide audiences with the opportunity to enjoy movie masterpieces. We look forward to the implementation of the new programmatic policy and expect that it will benefit both movie lovers and society at large, "said Scott Stuber, CEO of Netflix Films. that the Egyptian Theater is one of the oldest cinemas in the United States, opened as a "glamorous" cinema palace back in 1922, when it became the site of the very first Hollywood premiere of the movie, "Robin Hood". The theater was closed in 1992, and then bought by the American Cinematheque from the city for just one dollar on the condition that it be "restored to its original grandeur." The cinema reopened after renovation in 1998. The Topic of Article: Netflix Completes Acquisition of Historic Cinema. |
