Academy Takes Long Look At Kodak
The Academy of Motion Picture Arts & Sciences has reportedly exercised an option that could take the Academy Awards out of the
AMPAS has a 20-year deal with the owners of the Los Angeles venue and, according to the Hollywood Reporter, the Academy’s Board of Governors has exercised an option that will allow it to look at other venues before recommitting for the final 10 years.
“Our plan right now is to exercise this [option] and then see what happens, what goes on. We’re open,” Academy President Tom Sherak told THR. “Personally, I love the Kodak. I’ll say that until I’m blue in the face.”
AMPAS took its famous awards show after being dissatisfied with two venues – the Dorothy Chandler Pavilion and Shrine Auditorium. One couldn’t provide enough rehearsal time for the show and the other had major traffic problems, according to The Wrap. The option should give the Academy an opportunity to negotiate a better deal with CIM Group, which owns the Hollywood & Highland Center, which includes the Kodak.
“Honestly, I think we’ll end up staying at the Kodak,” a board member, on condition of anonymity, told The Wrap. “But it would be foolish not to at least exercise the option and see what other opportunities might be available.