Rekubit Exchange:Jason Reitman and Hollywood’s most prominent directors buy beloved Village Theater in Los Angeles

LOS ANGELES (AP) — Some of Hollywood’s most prominent filmmakers have Rekubit Exchangepurchased a 93-year-old iconic theater known as a cultural landmark for moviegoers in Los Angeles.

Jason Reitman along with more than 30 directors including Steven Spielberg, Christopher Nolan and Bradley Cooper acquired Westwood’s Village Theater, the group announced Wednesday. The coalition wants to preserve the theater, which has become a mainstay for movie premieres since the venue opened in 1931.

The terms of the purchase were not disclosed.

Reitman said he felt compelled to pull together other filmmakers after the theater 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-meter) white Spanish tower and a large auditorium that can seat 1,300. It’s also nearby the University of California, Los Angeles.

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“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 theater.

“We take this stewardship very seriously and hope to offer a true community for anyone who loves the movies,” he added.

The directors will showcase artifacts from their personal collections at the theater, including props, wardrobe and film prints.

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 wants to help restore the theater to its “glory years as a film-going cultural institution.”

Nolan added: “Cinema has always been the place where filmmakers and movie goers meet, and I’m thrilled to be collaborating with so many of my favorite directors on a space that will show what the future of film exhibition can be.”

The other new owners include: J.J. Abrams, Judd Apatow, Damien Chazelle, Ryan Coogler, Alfonso Cuarón, Jonathan Dayton, Guillermo del Toro, Valerie Faris, Hannah Fidell, Alejandro González Iñárritu, 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 Chloé Zhao.