The Hollywood venue that hosts the Oscars has been renamed the Dolby Theatre in a new sponsorship deal. The 3,400-seater building, which has been home to the annual Academy Awards ceremony since 2002, was previously known as the Kodak Theatre. Earlier this year a judge granted Eastman Kodak permission to end the $74 million, 20-year naming rights deal it signed in 2000. Dolby has agreed a 20-year contract with theatre owners the CIM Group. Kevin Yeaman, of British-founded audio technology specialists Dolby, said the partnership “allows the theatre to be not only the world stage for the Academy Awards, but for Dolby innovations for decades to come”. Eastman Kodak entered bankruptcy protection from its creditors in January this year after failing to keep up with competitors. The 133-year-old company announced it was to stop making digital cameras in order to focus on more profitable divisions.
