HOLLYWOOD (KTLA) -- Grauman's Chinese Theater, one of Hollywood's trademark destinations, has been sold to a pair of movie producers for an undisclosed sum, reports said Thursday.
Don Kushner, executive producer of Disney's "Tron: Legacy" and local entrepreneur Elie Samaha are reportedly in talks with current owners Warner Bros. and Viacom, the L.A. Times said.
The sale is expected to close May 20 and includes adjacent Mann's Chinese movie theater.
People close to the sale told L.A. Times that the theater will still be used to screen movies and host premiers.
The theater, famous for its gallery of celebrity foot and hand prints, was opened in 1927 by Hollywood heavyweights Sid Grauman, Mary Pickford and Douglas Fairbanks.
Ted Mann, owner of the Mann cineplex chain, operated the landmark from 1973 until selling it to Warner and Viacom in 2001.
It was declared a historic landmark in 1968.
They also noted that the land will stay in the hands of commercial property giant CIM Group.
CIM Group purchased the lot in 2008 and also owns the Hollywood and Highland complex next door.Copyright © 2014, The Baltimore Sun