One of Westwood’s historic movie theaters will soon have new ownership.
Filmmaker Jason Reitman is leading an unnamed group of investors in purchasing the art deco Fox Village Theater, located at 945 Broxton Ave. The news, first reported by The Ankler’s Peter Kiefer, was confirmed by The Hollywood Reporter. Per the initial report, Reitman and crew are “weeks away” from taking over the property in a deal that is currently in escrow.
Last summer, reports surfaced that the landmarked Fox Village was up for grabs for a $12 million sum, listed by Newmark’s Capital Markets group, which promoted the theater as an “iconic property” and “one of the most identifiable, landmark properties in Los Angeles.” The listing also stated that the 24,099-square-foot building, which houses 1,375 seats inside the theater, had not previously been up for sale.
Westwood was once home to a lively theatrical scene, thanks to the Fox Village, the adjacent Regency Bruin and the Landmark Westwood just a stone’s throw from the other two. In recent years, however, amid the rise in streaming and the blows caused by the pandemic, the Westwood theaters are largely known in Hollywood circles as go-to rental hubs for red carpet premieres.
Apple TV+ and Amazon host many premieres at the Fox Village, and every so often, so do Netflix and other Hollywood studios. Apple just recently hosted the world premiere of its epic series Masters of the Air there with stars like Callum Turner, Barry Keoghan and Austin Butler making the rounds, along with Steven Spielberg and Tom Hanks.
It’s unclear what Reitman and his investors will do with the property, which reportedly is in need of an upgrade. Reitman has the movie business in his DNA. The son of late influential filmmaker and producer Ivan Reitman, Jason Reitman has been making movies since the late ’90s. His credits include Thank You for Smoking, Juno, Up in the Air, Young Adult, Labor Day, Men, Women & Children, Tully, The Front Runner and Ghostbusters: Afterlife. He next directs SNL 1975.