The Hollywood venue that plays host to the Oscars has been renamed the Dolby Theatre as part of a new sponsorship deal.
Formerly known as the Kodak Theatre, the 3,400-seater building has been home to the Academy Awards since 2002.
Eastman Kodak, which entered bankruptcy proceedings this January, was granted permission by a judge to end the 20-year $74m dollar naming rights deal it signed in 2000.
Dolby, the theatre’s new sponsors, have signed a similar 20-year deal with the venue’s owners, the CIM Group.
Tom Sherak, president of the Academy of Motion Picture Arts and Sciences, said: “The Academy’s Board of Governors believes that the home for our awards is in Hollywood,
“It is where the Academy and the motion picture industry are rooted. We are pleased to have a new agreement with CIM that will continue our long-standing partnership.”
Kevin Yeaman, a spokesman for Dolby said that the new partnership will allow “the theatre to be not only the world stage for the Academy Awards, but for Dolby innovations for decades to come.”
Dolby was founded in London in 1965 and today specialises in audio noise reduction and encoding/compression technologies.