June 12 - Hollywood's Kodak Theater gets renamed the Dolby Theater. Alicia Powell reports.
The home of the Academy awards gets a new name. What was once known as the Kodak Theater became the Dolby Theater after the film company filed for Chapter 11 bankruptcy in January. Academy president Tom Sherak called the change bittersweet. SOUNDBITE: Tom Sherak, president of the Academy of Motion Picture Arts and Sciences, saying: "They had to deal with it and they couldn't afford to do this anymore. I understand that. Am I sad, sure I am, but I am also elated that Dolby is the new home of the Academy Awards." The Dolby Theater spans 180,000 square feet on several floors, a size that dwarfs most movie theaters. Along with the name change is an enhanced cinema experience that includes a 60-foot by 32-foot movie screen, two digital projectors and 164 loudspeakers. Alicia Powell, Reuters.