Listen To This Post
The Central Hollywood Neighborhood Council will review on Monday night a presentation on Netflix’s plans for The Egyptian Theatre Hollywood. According to the neighborhood council’s meeting agenda, renovation plans for the theatre, which Netflix acquired in May, will be presented by Charuni Patibanda, a partner at The McOsker Group, a government affairs and lobbying firm.
The entertainment streaming giant said in an announcement of its plans earlier this year that its renovation of the historic theater, which is the site of Hollywood’s first movie premiere, would be done in a partnership with the American Cinematheque, the cultural arts nonprofit that has owned the venue since the 1990s. “The Egyptian Theatre is an incredible part of Hollywood history and has been treasured by the Los Angeles film community for nearly a century,” Scott Stuber, head of Netflix Films, said in a May press release announcing the venture. “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.”
The streaming giant will invest an undisclosed sum in the theater’s renovation and use the revamped space during weekdays for special events, screenings and premieres, while the American Cinematheque curation team will carry on with their own programing Friday through Sunday. According to Los Angeles County Assessor records, Netflix paid $14.4 million to acquire The Egyptian Theatre Hollywood.
Netflix’s involvement follows a period of dire struggles for the historic theater exacerbated by the coronavirus pandemic. In November, the American Cinematheque’s executive director told The Hollywood Reporter that the theater, facing gutted cash flows and up to $6 million in necessary renovations, would have gone out of business without the sale.
Patibanda’s presentation on Netflix’s plans will air as part of the Central Hollywood Neighborhood Council Planning & Land Use Committee’s report. The entire General Board meeting is scheduled to begin at 6 p.m.