The Kodak Theatre, home to the Academy Awards now has a new name. It will be called Dolby Theatre, meaning that the Academy Awards show will continue to be held there for the next 20 years, the owner of the Hollywood & Highland Center announced.
The world famous theater in the heart of Hollywood underwent an identity crisis when its previous namesake, Kodak, filed for bankruptcy earlier this year.
Dolby plans continue to update the more than 3,400-seat facility with its recently released Dolby Atmos sound technology, and make other upgrades.
“Our partnership with CIM allows the Dolby Theatre to be the world stage for the Academy Awards and for Dolby innovation for decades to come,” said Dolby Chief Executive Kevin Yeaman in a statement.
Under the new contract with the Academy, the Dolby Theatre will host the Academy Awards through 2033.
“The Academy’s Board of Governors believes that the home for our awards is in Hollywood,” said Academy President Tom Sherak in a statement. “It is where the Academy and the motion picture industry are rooted.”
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