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Hollywood's Grauman's Chinese Theatre to be sold: reports

04-29-2011 14:19 BJT

LOS ANGELES, April 28 (Xinhua) -- The iconic Grauman's Chinese Theatre in Hollywood, Los Angeles, is being sold to two new owners, various media outlets reported Thursday.

Hollywood producer Don Kushner, who made sci-fi fantasy "Tron: Legacy," and controversial dry cleaner-turned-filmmaker Elie Samaha bought the theater from Warner Bros. and Paramount Pictures parent Viacom Inc. for an undisclosed price, the Los Angeles Times reported on its website.

Aside from the one-screen theater on Hollywood Boulevard, the two producers also bought the Mann's Chinese 6 multiplex equipped with D-Box facilities in an adjacent shopping mall.

The new owners are considering advertising opportunities, special events and product promotions to wring more revenue out of the property, The Hollywood Reporter said on its website, quoting commercial real estate broker John Tronson.

The deal is scheduled to close May 20, which marks the third time that the landmark theater changes hands since its inauguration in 1927.

For decades one of the most iconic theaters in Hollywood, the Chinese Theatre hosted several Academy Awards ceremonies and was the site of some high-profile premieres, including Cecil B. DeMille's "The King of Kings" in 1927 and George Lucas' "Star Wars" release in 1977.

Editor:Yang Jie |Source: Xinhua

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