LOS ANGELES: Dolby Laboratories has acquired the naming rights to what had been known as the “Kodak Theater” at the Hollywood & Highland Center in Los Angeles. The 3,400-seat, 180,000-square-foot theater will now be known as the Dolby Theater.

With Kodak’s abandoning the name as a part of the fallout from their corporate bankruptcy there have been questions as to whether the venue’s signature event, the annual Academy Awards presentation, would remain there or be moved to another location. Under the terms of the agreement the awards ceremony will remain there for another 20 years.

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