HOLLYWOOD, LOS ANGELES (KABC) -- Netflix is in preliminary talks to buy the historic Egyptian Theatre in Hollywood, Eyewitness News has learned.
The Pharoah-themed theater, built by Sid Grauman in the 1920s, has been one of the most famous and storied theaters in the world. Now negotiations are underway for Netflix to buy it. Yes, Netflix, the same streaming service that Oscar-winning film maker Steven Spielberg has blasted for streaming movies, like Academy Award winning "Roma," direct to viewers at home, with limited theatrical showings.
"The Egyptian was where the first Hollywood movie premiere was held in 1922 and now a streaming service looks like its going to own it," Natalie Jarvey from the Hollywood Reporter points out.
If you're wondering, that first Hollywood movie premiere was for "Robin Hood."
