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Academy Awards To Take Place At Newly Named Hollywood & Highland Center

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(Photo Credit: Mark Ralston/AFP/Getty Images)

(Photo Credit: Mark Ralston/AFP/Getty Images)

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HOLLYWOOD (CBS) — This year’s Academy Awards will be held for the first time at the Hollywood & Highland Center, now that Kodak’s name has been stripped from the Hollywood venue.

Since the photography company has filed for bankruptcy, Kodak received approval from a federal judge to have its name removed from the theater and end its annual naming-rights payments of nearly $4 million.

Since Kodak Theatre is no longer the Kodak Theatre, the landlord of the center, CIM Group, requested that the Oscar’s ceremony venue be referred to as Hollywood & Highland Center.

The Oscars may have a new home next year, as well. The Academy decided in December not to renew its agreement to hold the show at the center, but could strike a new deal with the CIM Group at a later date or try to negotiate with another venue, such as the Nokia Theatre in downtown Los Angeles.

The 84th Academy Awards will be held Sunday.

(©2012 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)

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