Deals
Netflix Is in Talks to Buy Historic Hollywood Theater
- Online giant would acquire Egyptian from American Cinematheque
- The Silicon Valley company has been forging ties to Hollywood
Netflix Inc. is in talks to acquire the Egyptian Theatre in Los Angeles, according to a person familiar with the matter, potentially putting a historic Hollywood venue in the hands of the streaming giant.
The theater would be used to host industry screenings and premieres, and a purchase doesn’t signal that Netflix wants to get in the business of brick-and-mortar locations, said the person, who asked not to be identified because the discussions are private. Netflix would acquire the Egyptian from American Cinematheque, a nonprofit that owns two theaters in the Los Angeles area.