Netflix Reportedly In Talks To Acquire Egyptian Theatre In Los Angeles

(RTTNews) - 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.