Academy of motion pictures Oscar Logo

The Academy of Motion Picture Arts and Sciences has announced that it received a $7 million gift from Dolby Laboratories to provide audiovisual technology in the Academy Museum of Motion Pictures’ movie theaters.

The Dolby family has also made a $5 million donation to the Academy Museum’s capital campaign. In recognition of the gift, the Academy will name the Museum’s rooftop terrace the Dolby Family terrace.

“Dolby Laboratories, founded nearly 50 years ago by Ray Dolby, continues to enhance and transform how we experience the movies,” said Bob Iger in a statement. Iger is chairing the Academy Museum’s capital campaign along with co-chairs Annette Bening and Tom Hanks. “These generous gifts will help to ensure that the world will continue to experience the magic of cinema through the Academy Museum of Motion Pictures.”

“My husband Ray was passionate about elevating the sound of entertainment, and his company’s contributions to cinema sound are well known,” said Dagmar Dolby. “My sons, Tom and David, and I are honored to continue this legacy by supporting this important cultural project.”

The Academy Museum will be located next to the Los Angeles County Museum of Art in the historic Wilshire May Company building. The museum will house more than 290,000 square feet of galleries, exhibition spaces, theaters, educational areas and event spaces, and it’s scheduled to open in 2017.

“The generosity of Dolby Laboratories and the Dolby family will help us create an unforgettable experience for museum visitors,” added Dawn Hudson, the Academy’s CEO. “Our long-standing partnership with Dolby reflects our joint commitment to transform and promote the art of moviemaking.”

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