Netflix completed has its purchase of Hollywood's historic Egyptian Theater, helping to confirm the streaming giant's newfound central position in the movie industry.
The Los Angeles theater built in 1922 claims to have hosted Hollywood's first ever movie premiere -- "Robin Hood" -- and will be used by Netflix for movie premieres as well as screenings and special events.
"The Egyptian Theater is an incredible part of Hollywood history and has been treasured by the Los Angeles film community for nearly a century," said Netflix film head Scott Stuber in a statement confirming the deal.
Netflix, which did not reveal the size of its investment, will run the venue jointly with the nonprofit American Cinematheque, which bought the dilapidated theater from city officials in 1996 and renovated it two years later.
“We’re honored to partner with the American Cinematheque to preserve the theater’s storied legacy and continue providing remarkable film experiences for audiences. We look forward to expanding programming at the theater in ways that will benefit both cinema lovers and the community,” said Stuber.
The Egyptian Theater's landmark 1922 premiere of "Robin Hood" saw Charlie Chaplin and movie mogul Cecil B. DeMille join the film's star Douglas Fairbanks and his wife Mary Pickford at the venue on Hollywood Boulevard.
It would later host premieres of other key silent movies from Hollywood's famed Golden Age, such as "The Gold Rush.”
Netflix has spent billions in recent years to lure the industry's top filmmaking talent, upstaging traditional Tinseltown studios with prestigious titles including "Roma" and "The Irishman."
Last year the streaming giant announced it would use New York's historic Paris theater, which had been shuttered months earlier, for special events and screenings.
