The Oscar Goes to.....Maybe Another Theatre?
By: Caroline Tucker
Updated: January 12, 2012
For the last decade, the Oscars have had a home at the Kodak Theatre.
Kodak received naming rights in 2001 after agreeing to pay $75 million over 20 years.
But now, the Los Angeles Times and The Hollywood Reporter report that talks are happening between the Academy of Motion Picture Arts & Sciences and AEG, the company that own the Nokia Theater in downtown Los Angeles.
The Nokia Theatre is home to the Emmy's and the American Music Awards.
The Oscars were the reason Kodak put its name and money behind the theatre that would host the most prestigious awards show in Hollywood.
Every year, about 40 million people watch the global event.
For the last 10 years, it's been at the Kodak Theatre.
"You think of film, you think of Kodak," said Carlo Jannotti, Vice President of Forward Branding in Webster.
Forward Branding, of Webster, is responsible for much of the branding and packaging you see with Kodak cameras.
"It's symbolic and unfortunate at a time when Kodak is struggling that this kind of activity comes up where they might want to move it [the Oscars]," said Jannotti.
If the Oscars move, will Kodak continue to pay to have its name on a theatre that no longer is host.
"What I was told by president of academy is they may or may not stay in the Kodak. They like the theater but want to have options" said Alex Ben Block, senior editor of The Hollywood Reporter.
Block says the Academy may be looking at trying to negotiate a better deal.
The Nokia Theater offers more amenities than the Kodak Theatre. Block says it has more seating, it's a tv studio, and offers clubs and restaurants within the complex.
Reports say that it's a business decision for the Academy to get a better deal.
But Kodak's problems don't help.
"There is kind of a feeling that if the Kodak name is not going to be on the theater anymore because of the problems we all know considering the possible bankruptcy, or even without a bankruptcy, the financial problems that might make it difficult," said Block.
Block says that would happen if Kodak was unable to make its payments to keep the naming rights. However, he says that the company is up-to-date with all of its naming rights payments.
Meanwhile, at Forward Branding, they are hoping for the best.
" Kodak is still, really, the film brand that helped build Hollywood. I hope that they manage to hold on to the awards there and Kodak renews, so they can continue to keep their name with it," said Jannotti.
The Academy issued this brief statement: "The Academy has not begun venue negotiations for the Oscar telecast beyond 2013."
A Kodak spokesperson said "Obviously, the Oscars are a marquee event that is great to have in the theatre and associated with our name."
