Reitman said he felt compelled to pull together other filmmakers after the theatre went up for sale last year. As a Los Angeles native, he wants to extend the rich history of the Village Theater, which is known for its 170-foot (52-metre) white Spanish tower and a large auditorium that can seat 1,300. It's also near the University of California, Los Angeles.
“I immediately made an offer and hoped my fellow directors would join me on this adventure,” Reitman said in a statement. He noted that some of his films, including Up in the Air, Ghostbusters: Afterlife and Juno premiered at the theatre.
Chris Columbus, who directed the Home Alone and Harry Potter films, expects to share his extensive collection of 16mm film prints. He called the theater a “cinematic miracle.” Spielberg said he wanted to help restore the theatre to its "glory years as a film-going cultural institution.” Nolan added: “Cinema has always been the place where filmmakers and moviegoers meet, and I'm thrilled to be collaborating with so many of my favourite directors on a space that will show what the future of film exhibition can be."
The other new owners include JJ Abrams, Judd Apatow, Damien Chazelle, Ryan Coogler, Alfonso Cuaron, Jonathan Dayton, Guillermo del Toro, Valerie Faris, Hannah Fidell, Alejandro Gonzalez Inarritu, James Gunn, Sian Heder, Rian Johnson, Gil Kenan, Karyn Kusama, Justin Lin, Phil Lord, David Lowery, Christopher McQuarrie, Chris Miller, Alexander Payne, Todd Phillips, Gina Prince-Bythewood, Jay Roach, Seth Rogen, Emma Seligman, Brad Silberling, Emma Thomas, Denis Villeneuve, Lulu Wang and Chloe Zhao.