Written by: FFT Webmaster | May 11th, 2012
Amidst speculation over whether the Academy Awards would move their ceremonies from the Kodak Theater, now that the financially beleaguered company decided due to its own financial pressures to stop payments to the complex and take its logo off the building, news comes out of Los Angeles that the Oscars will remain in the same building at the Hollywood & Highland theater complex, which will be renamed the Dolby Theatre. Dolby Laboratories Inc. has pacted with the complex’s developer CIM for a 20-year agreement, which includes an upgrading of the 3400-seat theater and introducing the Dolby Atmos sound system, the company’s most state of the art audio breakthrough. Under a new contract with the Academy, the Dolby Theatre will host the Academy Awards through 2033. There had been some speculation that the Oscar show would move downtown, but it will now remain in the Hollywood district for the next 20 years at least.