Kodak looking to take its name off the Oscars
If you want to know one thing you won't be seeing at the Oscars, it may be the name Kodak on L.A.'s Kodak Theatre, the auditorium crammed onto Hollywood Boulevard for ogling tourists to stare at as they tread the Walk of Fame. Now that the Eastman Kodak Co. has declared bankruptcy, it's asking a federal court to get it out of a deal for naming rights to the property. As if bankrupt companies don't have the cash to pay $4 million per year for stuff like that.
The Hollywood Reporter says Kodak's 2000 deal with CIM Group is worth $75 million over 20 years, and that $4 mil is due next year. While the film company is current on its payments, the Academy of Motion Picture Arts and Sciences saw that Kodak was in trouble last year, and threatened CIM by saying 2013 could be the last year the awards ceremony was held in the Kodak Theatre. That probably didn't help Kodak's bruised ego.
This year's Oscars are on Feb. 26, but after that, no decision has been made about whether the Academy is staying or will seek other digs, but we all should get ready for a possible name change. How does "The Academy Awards, live from Dodgers Stadium" sound to everyone? That team could really use the money.
[Photo: Getty Images]