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Film academy signs 20-year deal to keep Oscar show in Hollywood

May 1, 2012 | 11:20 am

KodakThe Oscars aren't going anywhere. The Academy of Motion Picture Arts and Sciences announced Tuesday that it had signed a new 20-year deal with CIM Group to keep the annual Academy Awards show at the Hollywood & Highland Center through 2033. Also confirmed is a Dolby Laboratories agreement with the owners of the complex to take over the naming rights to the theater, previously belonging to Kodak, which filed for bankruptcy.

The agreement quells the rumors that the academy's board of governors was going to move its annual telecast downtown to the L.A. Live complex and its Nokia Theatre. 

"The academy's board of governors believes that the home for our awards is in Hollywood," said Tom Sherak, academy president. "We are pleased to have a new agreement with CIM that will continue our longstanding partnership."

The Academy Awards have been held at the theater within the Hollywood & Highland center since 2002,  and the idea of a move downtown was viewed by Hollywood residents as a blow to the local economy and to the center itself, which built the 3,400-seat theater specifically to house the annual show. A move downtown would have offered the academy more room for outdoor activities in addition to a theater with twice the occupancy of its current location.


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Photo: The annual Academy Awards show will stay at the Hollywood & Highland Center, until recently known as the Kodak Theatre and soon to be known as the Dolby Theatre, in Hollywood through 2033, thanks to a new deal. Credit: Al Seib / Los Angeles Times

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