In addition, Dolby will use the theatre to showcase new audio and visual technologies to the public as they become available. This will definitely be an opportunity for consumers and home theater fans to see and hear whay may eventually reach their own home entertainment environment.
Financial details of the naming rights and facility use transaction were not given, except to state that the contract runs for 20 years, and is tied to continued use of the theater for the annual Academy Awards TV broadcast. If the Motion Picture Academy of Arts and Sciences decides to move the awards show at any time during the 20-year contract period, Dolby has the ability renegotiate the contract terms, or possibly opt out of its naming rights and use of the facility.
For more details, read the Official Announcement provided by Dolby Labs.