CIM group announced that the home of the Academy Awards will now be known as the Dolby Theatre. Dolby Laboratories and CIM signed a new 20-year-deal, giving Dolby the naming rights to the theatre. Kodak petitioned for release from its contract over naming rights to the theatre because of its bankruptcy status. A bankruptcy judge granted Kodak's petition, which means Kodak no longer has to pay millions of dollars to keep their name at the top of the theatre.
The Dolby Theatre will continue to be the home of the Academy Awards.