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Netflix Partners With American Cinematheque to Restore Egyptian Theatre

Netflix Partners With American Cinematheque to Restore Egyptian Theatre

Netflix and the American Cinematheque are partnering on a deal to invest in the restoration of the historic, century-old Egyptian Theatre on Hollywood Boulevard, the two groups announced Friday.

TheWrap reported in April 2019 that Netflix was in early talks to buy the Egyptian Theatre from American Cinematheque, and the deal has now closed, though it was reported at the time the deal is part of an effort to restore the cinema and not expand to brick and mortar theater operations.

Netflix will invest in the theater’s renovation and will use the space for events, screenings and premieres during the week, while the non-profit film organization American Cinematheque will continue to curate its movie program on the weekends. The announcement says that the partnership will allow American Cinematheque to expand the scope of its event programming, festivals and educational outreach.

Also Read: Netflix Saves NYC's Historic Paris Theatre From Closure

See full article on The Wrap