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Winnipeg Free Press - PRINT EDITION
Academy Awards venue renamed for Dolby
LOS ANGELES -- The Oscars will be in Dolby.
The CIM Group, which owns the Hollywood & Highland Center, announced a 20-year deal on Tuesday with the audio technology company Dolby Laboratories Inc. to rename the Academy Awards venue as the Dolby Theater.
In a separate deal, the Academy of Motion Picture Arts and Sciences revealed a new agreement to keep the annual Oscars extravaganza at the theatre for 20 more years.
"We are thrilled that Dolby is now the name of the theatre because Dolby stands for excellence," said Tom Sherak, president of the motion picture academy. "It's a no-brainer for us."
The posh four-level, 3,400-seat theatre, formerly known as the Kodak Theater, has been home to the Academy Awards since 2002. CIM Group dropped the Kodak name from the theatre earlier this year after a bankruptcy court judge approved the early exit of 131-year-old Eastman Kodak Co. from a 20-year naming rights deal it signed with CIM Group in 1999.
During this year's Oscar ceremony, host Billy Crystal jokingly referred to the space as the "Chapter 11 Theatre."
Dolby, which creates audio technologies spanning from homes to theatres, said in a statement that it will use the Hollywood venue to "create a world-class showcase for Dolby's current and future technologies.
, beginning with the company's revolutionary new Dolby Atmos sound technology released last week."
The 47-year-old company said it would began enhancing the theatre's sound system this summer when the naming agreement commences.
The 85th annual Academy Awards are scheduled for Feb. 24, 2013.
-- The Associated Press
Republished from the Winnipeg Free Press print edition May 3, 2012 D2
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