Oscars' home renamed Dolby Theatre
LOS ANGELES (AP) - May 1, 2012 (WPVI) -- The Academy Awards' home at Hollywood's former Kodak Theatre is being renamed the Dolby Theatre.
Facility owner CIM Group on Tuesday announced a 20-year naming deal with the audio technology company Dolby Laboratories Inc.
CIM Group and the Academy of Motion Picture Arts and Sciences also announced a new agreement to keep the annual Oscars presentation at the theater for 20 more years.
The theater in CIM Group's Hollywood & Highland Center has been the Oscar stage since 2002.
Dolby says it will enhance the theater's sound system to showcase its technologies.
The theater dropped the Kodak name this year after Eastman Kodak Co. filed for bankruptcy protection.
oscars, kodak, business/finance
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