After more than a year of negotiations, Netflix has closed a deal to buy Hollywood’s historic Egyptian Theater, thereby marking a major milestone in the streaming giant’s plans to be taken seriously in the film industry and, ultimately, world domination.
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Update: Regal Cinemas is following in AMC’s footsteps, announcing that they have “reduced auditorium capacity by 50% and are complying, where applicable, with state mandates on social gathering limits.” Our original article continues.
In lieu of shutting down completely, AMC Theatres, the country’s largest theater chain, has announced a new policy to help prevent the spread of the coronavirus (aka COVID-19). Starting tomorrow, March 14, 2020, the chain will be implementing social distancing measures which involve cutting auditorium capacities by at least half.
Meanwhile, the American Cinematheque in Los Angeles has suspended screenings at Hollywood’s Egyptian Theatre and Santa Monica’s Aero Theatre. Get the details below. Read More »
Netflix is getting into the movie theater business in a big way. The streaming giant has entered into talks with American Cinematheque to buy the historic Egyptian Theater on Hollywood Blvd. On the surface, this looks like the latest step in Netflix’s overarching plan to be taken seriously by the film industry, since many in the business still cringe at Netflix’s streaming-based model. But sources say this is more of a partnership between Netflix and Cinematheque, and not a sign of things to come. We’ll see.
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