WASHINGTON (dpa-AFX) - Netflix Inc. (NFLX) is in talks to acquire the Egyptian Theatre in Los Angeles, Bloomberg reported citing a person familiar with the matter.
The theater would be used to host industry screenings and premieres, and a purchase doesn't signal that Netflix wants to get in the business of brick-and-mortar locations, the report said. Netflix would acquire the Egyptian from American Cinematheque, a nonprofit that owns two theaters in the Los Angeles area.
The report noted that Netflix has no plans to run the Egyptian like a commercial theater and won't be selling tickets to casual moviegoers, according to the person familiar with the situation. The deal also doesn't involve the Aero theater.
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