The Egyptian Theatre, a famed Hollywood movie palace that has been the site of many a film premiere since its opening in 1922 and is one of Los Angeles’ most recognizable bits of movie-themed real estate, has entered into a deal with Netflix. Specifics of the deal—whether it is an outright purchase or a four-wall lease situation—were not specified in Netflix’s announcement, though an email sent by the Egyptian to their patrons noted that Netflix “will own the theatre.”
In operating the theater, the streaming service will work in collaboration with American Cinematheque, a nonprofit arts organization that purchased the Egyptian from the City of Los Angeles in 1996 as part of LA’s Hollywood Revitalization project. Funds were raised to renovate the then-closed theatre, which reopened its doors in 1998. The Egyptian, per Netflix’s official press release, “will remain the...