Richard Lightstone, CAS Posted May 1, 2012 Report Share Posted May 1, 2012 The Academy of Motion Picture Arts & Sciences announced today that they will continue to hold the Oscar ceremonies at the Hollywood and Highland Center; the former Kodak Theatre and it will be renamed the Dolby Theatre. Here is the press release: CIM GROUP CLOSES TWO MAJOR TRANSACTIONS – THE ACADEMY AWARDS® TO REMAIN IN HOLLYWOOD THE DOLBY THEATRE™ TO DEBUT AT HOLLYWOOD & HIGHLAND CENTER® Beverly Hills, CA – The Academy of Motion Picture Arts and Sciences and CIM Group announced today that the Academy Awards® will remain in Hollywood under a new 20-year deal. Concurrently, in a separate agreement, Dolby Laboratories, Inc. (NYSE:DLB) and CIM announced a 20-year agreement to name the Dolby Theatre™ -- the iconic theatre at the Hollywood & Highland Center® and home of the Academy Awards since 2002-- a showcase of technology innovation. “Our ability to swiftly conclude two significant contracts with global entertainment leaders affirms Hollywood as a thriving district, the Dolby Theatre as the ultimate entertainment showcase and Hollywood & Highland Center as a cornerstone for both the local and entertainment communities,” said Shaul Kuba, Co-Founder of CIM Group, owners of the Hollywood & Highland Center. CIM is an investor in communities throughout North America and the largest commercial real estate owner in Hollywood. In 1998, CIM Group identified Hollywood as an emerging urban district that meets the firm’s strategic investment guidelines and is headquartered there. Since then, it has acquired and developed a portfolio of properties that include office, retail, hotel and multifamily residential properties. Under the new contract with the Academy, the Dolby Theatre will host the Academy Awards through 2033. The Dolby Theatre features 3,400 seats on four levels and 20 opera boxes, one of the largest stages in the United States with state-of-the-art infrastructure designed for a variety of programming including live broadcast. “The Academy’s Board of Governors believes that the home for our awards is in Hollywood. It is where the Academy and the motion picture industry are rooted,” said Tom Sherak, Academy President. “We are pleased to have a new agreement with CIM that will continue our longstanding partnership.” Dolby is a global brand and industry leader in creating the best entertainment experiences. During the term of the Dolby Theatre agreement, which will commence this summer, Dolby will continue to update the theatre with innovative, world-class technologies to ensure that the theatre remains state-of-the-art, beginning with the immediate installation of its recently released Dolby® Atmos™ sound technology. Financial terms were not disclosed. The Dolby Theatre amplifies Dolby’s commitment to innovation as a leader and creator of the most realistic and immersive entertainment experiences. “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. Dolby has long been an integral part of Hollywood and the entertainment industry,” said Kevin Yeaman, President and CEO of Dolby Laboratories. “Dolby is a brand recognized around the world for creating the best, most life-like entertainment sound experiences in any environment.” For 34 consecutive years, films released with Dolby audio technologies have earned Academy Award nominations for outstanding sound quality. Quote Link to comment Share on other sites More sharing options...
studiomprd Posted May 1, 2012 Report Share Posted May 1, 2012 Richard "Faster than Lightning" Lightstone! strikes again... Quote Link to comment Share on other sites More sharing options...
Last Rites Films Posted May 1, 2012 Report Share Posted May 1, 2012 I'm actually glad that a sound company has the naming rights. Perhaps now the idea of sound will be a little more present at the Academy Awards. Then again... probably not. Quote Link to comment Share on other sites More sharing options...
Richard Lightstone, CAS Posted May 2, 2012 Author Report Share Posted May 2, 2012 Last Rites, Dream on... AMPAS tries every year to move the technical Oscars to a separate event after all it's no longer an Awards ceremony celebrating ALL the people who make movies; it's a TV show designed to entertain and get ratings. Quote Link to comment Share on other sites More sharing options...
Bondelev Posted May 2, 2012 Report Share Posted May 2, 2012 But will the theater have 64 channel sound? Quote Link to comment Share on other sites More sharing options...
soundslikejustin Posted May 2, 2012 Report Share Posted May 2, 2012 But will the theater have 64 channel sound? Dolby are installing an Atmos system, apparently. Quote Link to comment Share on other sites More sharing options...
Marc Wielage Posted May 3, 2012 Report Share Posted May 3, 2012 I'm just glad some sleazy company didn't take over the theater. "Live from Hollywood! The 85th annual Academy Awards, from the Subway Tuna Theater!" Or, god forbid, Vivid Video... That would be some interesting big-screen graphics on the outside of the building. Hey, at least it's a major American company with roots in film & TV. Quote Link to comment Share on other sites More sharing options...
studiomprd Posted May 3, 2012 Report Share Posted May 3, 2012 Live from the giant "Hooters Theater"... I remember when they bought the naming rights to the l... er the Hooters Aloha Bowl (that year) Quote Link to comment Share on other sites More sharing options...
soundmanjohn Posted May 5, 2012 Report Share Posted May 5, 2012 Hey, at least it's a major American company with roots in film & TV. But let's not forget that Dolby Labs was founded in the UK and the first film to be released with Dolby (ish) sound was Kubrick's A Clockwork Orange, filmed in the UK. Just sayin' Quote Link to comment Share on other sites More sharing options...
Richard Lightstone, CAS Posted May 5, 2012 Author Report Share Posted May 5, 2012 Here are the facts: Dolby Labs was founded by American Ray Dolby in Great Britain in 1965. He moved the company to the United States (San Francisco, California) in 1976. The "ish" you refer too is, "The first film with Dolby sound was A Clockwork Orange (1971), which used Dolby noise reduction on all pre-mixes and masters, but a conventional optical sound track on release prints." Quote Link to comment Share on other sites More sharing options...
Marc Wielage Posted May 5, 2012 Report Share Posted May 5, 2012 Yeah, well... Ray Dolby is still a great American to me. He'll always be one of the guys who literally invented the VTR! Second guy on the left. Youngest guy on the Ampex team -- only 23 years old in 1956, when this picture was taken. Quote Link to comment Share on other sites More sharing options...
soundmanjohn Posted May 5, 2012 Report Share Posted May 5, 2012 No argument from me at all: just pleased that he spent some of his, and his company's formative years in the UK. Regards, John Quote Link to comment Share on other sites More sharing options...
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