Netflix wants to buy Hollywood’s historic Egyptian Theatre


Netflix is looking to buy some legitimacy in Hollywood — by acquiring a historic Hollywood movie theater.The video-streaming giant — which is locked in a battle with Steven Spielberg and other A-listers over whether it’s entitled to compete for Oscars — is in talks to buy the Egyptian Theatre on Hollywood Boulevard, sources said.

The Tinseltown landmark built by Sid Grauman nearly a century ago — which played host to the first-ever movie premiere in 1922, a screening of “Robin Hood” starring Douglas Fairbanks — could end up playing host to Netflix movie premieres and private company events during the week.

Insiders emphasized that the deal isn’t a signal that Netflix is getting into the movie theater business. Rather, Chief Executive Reed Hastings likely sees it as way to boost Netflix’s image as a big player in full-length features.

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