As Seattle waits to see what the long run holds for the beloved Cinerama movie theater, an attention-grabbing improvement in Los Angeles lends credence to the idea that Amazon may sometime need to personal such a venue.
Netflix finalized a deal to purchase the historic Egyptian Theater in Hollywood, according to a story in Variety on Friday, which didn’t cite a value and stated the deal had been within the works for greater than a yr.
The streaming large’s acquisition additional cements its need to be a serious participant in Hollywood’s filmmaking neighborhood. And, as Selection studies, the transfer offers Netflix a means around main theater chains resembling AMC and Regal, which had been reluctant to indicate movies from the service as a result of it might not adhere to exclusivity home windows that different studios abide by.
The nonprofit American Cinematheque will nonetheless curate and display screen weekend content material on the Egyptian on weekends, however Netflix plans to showcase its personal content material and use the ability for particular occasions, screenings and premieres throughout the week, Selection reported.
Grabbing a bodily theater is simply the kind of state of affairs we pictured Amazon being interested in when information broke this week that the Cinerama, owned by the late Paul Allen’s Vulcan Inc., would be closed indefinitely as renovation of the area was halted within the wake of COVID-19.
Amazon has already proven a need to compete in Hollywood and with Netflix at numerous movie and tv awards reveals with content material it makes from its personal studio. Maybe a transfer into bodily theaters isn’t to date fetched.