Star Directors Buy Los Angeles Cinema With Plan for ‘Coolest AV Club’

With the moviegoing experience under threat from streaming services and ever-improving home entertainment options, a group with a passionate interest in its preservation — three dozen filmmakers who create their works for the big screen, to be enjoyed in the company of large audiences — has decided to do something about it.

The group of directors, led by Jason Reitman — whose films include “Juno,” “Up in the Air” and “Ghostbusters: Afterlife” — announced Wednesday that it had bought the Village Theater in the Westwood neighborhood of Los Angeles, which was put up for sale last summer to the concern of film buffs. The group, which also includes Christopher Nolan, Steven Spielberg, Lulu Wang and Alfonso Cuarón, among others, plans to restore the 93-year-old movie palace, which features one of the largest screens in Los Angeles.

“I think every director dreams of owning a movie theater,” Reitman said in an interview. “And in this case, I saw an opportunity to not only save one of the greatest movie palaces in the world, but also assembled some of my favorite directors to join in on the coolest AV club of all time.”

The announcement of the directors group buying the Village Theater, which has long been a favorite venue for premieres, follows on the heels of Quentin Tarantino’s recent purchase of the Vista Theater in the Los Angeles neighborhood of Los Feliz.

Once renovated, the Village Theater will showcase a mixture of first-run films and repertory programming curated by the group. The collective also intends to keep the theater open while plans for a restaurant, bar and gallery are finalized. Reitman said that the group was in talks with existing exhibitors about management of the day-to-day operations of the theater, but did not reveal who.

The Village Theater was put up for sale last summer for $12 million, and the filmmakers — many of whom are alumni of nearby U.C.L.A. — were fearful it would be torn down and turned into condominiums or a space for retail. The existential threat about the future of theatrical moviegoing also loomed over this endeavor.