Photo by mninha via Flickr Creative Commons
EXT. KODAK THEATRE - DAY
The phrase "live from the Kodak Theatre" is dead. Sunday's Oscars will not go location nameless, however. Instead, the 84th Annual Academy Awards telecast will be announced as "live from the Hollywood and Highland Center in Hollywood, California," per the request of the property's landlord the CIM Group, ABC 7 reports.
The forthcoming vague voiceover follows a court approval earlier this month to end Kodak's sponsorship of the 3,300-seat theater. The iconic company signed a naming rights deal for $74 million in 2000, but asked to cut short its contract after filing for Chapter 11 bankruptcy protection.
As for finding a new identity for the glamorous venue, "CIM has engaged Premier Partnerships to search for a new naming rights sponsor. However the process is complicated since a major brand would not want to pay $50 million or more for their name to be on the venue unless they are assured the Academy will keep the Oscars there for the term of the deal. That is yet to be seen," explains the Hollywood Reporter.
AP Photo/Damian Dovarganes
"Kodak" Theater, goodbye. "Hello my name is _____," now reads the imaginary name tag affixed to the glamorous Los Angeles venue located at Hollywood and Highland.
Eastman Kodak received court approval on Wednesday to end its sponsorship of the 3,300-seat theater. Kodak signed a naming rights deal for $74 million in 2000, but the iconic photography company asked to cut short its contract after filing for Chapter 11 bankruptcy protection last month.
Less than two weeks before welcoming inside the Academy Awards on Feb. 26, the famed venue finds itself in the throes of an identity crisis. Like many of its famous visitors, it seems a makeover is inevitable.