Dolby Secures 20-Year Naming Rights to Former Kodak Theatre

In a phone press conference, Dolby announced today (May 1st 2012) that it has concluded a 20-year deal for naming rights to the former Kodak Theatre, located at the Hollyood and Highland Center. Besides changing the name (the Dolby logo will be installed on the marquis within a few weeks), Dolby Labs will be putting the facility through an extensive audio and projection technology upgrade with the installation of its recently announced Dolby Atmos 64-channel surround sound system as well as Dolby 3D video projection.

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.

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