You will be redirected back to your article in seconds

Ruling: Kodak can exit Oscar venue

Feb. 26 ceremony could be held in nameless venue

Eastman Kodak has won the right in bankruptcy court to terminate its sponsorship agreement with the home of the Oscars, creating the possibility of a nameless venue — or an all-new sponsor — by the time the Feb. 26 telecast comes around.

Though the judge did not specify a time-frame for removing Kodak’s name, a company spokesperson who confirmed the ruling said the matter is in the hands of venue owner CIM.

“We have been successful in terminating our sponsorship,” the spokesperson said. “It’s up to them as to how they’ll change the signage.”

The naming rights agreement dates back to 2000, when the company agreed to pay $3.6 million per year to call the venue at Hollywood and Highland the Kodak Theatre. Wednesday’s ruling terminates some $38 million of the $72 million contract.

CIM group objected to Kodak’s request on Feb. 8 and has expressed qualms about removing all traces of the sponsorship, stressing that to do so would not be feasible with the Oscars’ promotional campaign already well under way and only two weeks left before the ceremony.

Kodak’s win coincides with the Academy of Motion Picture Arts & Sciences exercising its right to shop for another venue. Academy president Tom Sherak told Variety earlier in the month that talks with CIM are still ongoing; however, if AMPAS chooses another venue, it would eliminate the cache that sponsorship of the theater offers.

The Oscars are by far the highest-profile event that takes place at the complex, though the theater also has served as the home of Fox’s finale of “American Idol,” the ESPY, BET and Daytime Emmy awards, as well as Cirque du Soleil’s “Iris.”

AMPAS has no active involvement in who lands the new sponsorship deal but does have veto power over the selection.

Kodak filed for Chapter 11 bankruptcy protection on Jan. 19 through the United States Bankruptcy Court, Southern District of New York.

More Film

  • A Murder in Mansfield Documentary Review

    Film Review: 'A Murder in Mansfield'

    Eastman Kodak has won the right in bankruptcy court to terminate its sponsorship agreement with the home of the Oscars, creating the possibility of a nameless venue — or an all-new sponsor — by the time the Feb. 26 telecast comes around. Though the judge did not specify a time-frame for removing Kodak’s name, a […]

  • 'Over the Limit' Review: A Mesmerizing

    IDFA Film Review: 'Over the Limit'

    Eastman Kodak has won the right in bankruptcy court to terminate its sponsorship agreement with the home of the Oscars, creating the possibility of a nameless venue — or an all-new sponsor — by the time the Feb. 26 telecast comes around. Though the judge did not specify a time-frame for removing Kodak’s name, a […]

  • DreamWorks Animation Campus

    Film News Roundup: DreamWorks Animation Campus Sold for $290 Million

    Eastman Kodak has won the right in bankruptcy court to terminate its sponsorship agreement with the home of the Oscars, creating the possibility of a nameless venue — or an all-new sponsor — by the time the Feb. 26 telecast comes around. Though the judge did not specify a time-frame for removing Kodak’s name, a […]

  • Mudbound

    Oscar Myth of 'Pure' Movies: Why Netflix, Amazon Should Be Recognized

    Eastman Kodak has won the right in bankruptcy court to terminate its sponsorship agreement with the home of the Oscars, creating the possibility of a nameless venue — or an all-new sponsor — by the time the Feb. 26 telecast comes around. Though the judge did not specify a time-frame for removing Kodak’s name, a […]

  • IMAX Opens First European VR Center

    IMAX Opens First Virtual Reality Center in Europe

    Eastman Kodak has won the right in bankruptcy court to terminate its sponsorship agreement with the home of the Oscars, creating the possibility of a nameless venue — or an all-new sponsor — by the time the Feb. 26 telecast comes around. Though the judge did not specify a time-frame for removing Kodak’s name, a […]

  • SGIFF: Why Gavin Lim's Diamond Dogs'

    Why 'Diamond Dogs' Had to Premiere in Singapore

    Eastman Kodak has won the right in bankruptcy court to terminate its sponsorship agreement with the home of the Oscars, creating the possibility of a nameless venue — or an all-new sponsor — by the time the Feb. 26 telecast comes around. Though the judge did not specify a time-frame for removing Kodak’s name, a […]

  • Mona Fong Mona Fong, wife of

    Singer, Star, Leading Asian Film Executive Mona Fong Dies at 83

    Eastman Kodak has won the right in bankruptcy court to terminate its sponsorship agreement with the home of the Oscars, creating the possibility of a nameless venue — or an all-new sponsor — by the time the Feb. 26 telecast comes around. Though the judge did not specify a time-frame for removing Kodak’s name, a […]

More From Our Brands

Access exclusive content