VIDEO: David Geffen drops $25 million for Mid-Wilshire film museum

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Music and movie mogul David Geffen has kicked in $25 million for a film museum planned by Academy Awards overseers.

The Academy of Motion Picture Arts and Sciences announced Monday that the David Geffen Foundation made the donation for the museum scheduled to open in 2017 next to the Los Angeles County Museum of Art.

It's the largest contribution yet in the academy's $300 million fund drive for the museum.

In recognition, the academy is naming a theater at the facility after Geffen, which will be just part of the museum's offerings. The press release continues: 

Designed by architects Renzo Piano and Zoltan Pali, the Academy Museum will be located next to the Los Angeles County Museum of Art (LACMA) in the historic Wilshire May Company building. Slated to open in early 2017, the Academy Museum will contain nearly 300,000 square feet of state-of-the-art galleries, exhibition spaces, theaters, screening rooms, education centers, and special event spaces.

Record company executive Geffen founded DreamWorks Pictures with Steven Spielberg and Jeffrey Katzenberg.

Geffen says the museum will provide a permanent home for the academy's tradition of "honoring the shining stars of the cinematic arts."

Watch a video sneak peek at the museum below:

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