The Eastman Kodak Co., which just filed for bankruptcy, now says it wants to have its name removed from the Hollywood & Highland complex where the Academy Awards have been held since 2002. Kodak will ask the CIM Group, which owns the mall where the theater is located, to be released from its contract as it can no longer afford the $4 million annual payments.
At the end of December, the Academy of Motion Picture Arts and Sciences notified CIM Group that it would not renew its option to remain at the Kodak Theatre after the 2013 show, which was seen as a negotiating ploy. Now, it seems that CIM will look for a new company for a naming rights deal.
Even though the Kodak Theatre and its exterior were branded around the Oscars -- with pillars listing the names of every past Best Picture winner and ample space for future winners -- the Academy is said to be considering relocating downtown to the Nokia Theater in L.A. Live, which has hosted such big events as "American Idol" finales, the American Music Awards, MTV's Video Music Awards and huge premieres like the one for "Breaking Dawn."
If the Oscars do move downtown, they'd be following in their TV counterpart's footsteps: In 2008, the Primetime Emmy Awards moved from the Shrine Auditorium (which once hosted the Oscars) to L.A. Live, where they're booked through 2018.