ACADEMY AWARDS TO STAY IN HOLLYWOOD!

The Academy of Motion Picture Arts and Sciences and CIM Group announced today that the Academy Awards® will remain in Hollywood under a new 20-year deal, confirmed until 2033.

They also announced that, in a separate agreement, Dolby Laboratories, Inc. (NYSE:DLB) will now own the naming rights for the iconic theatre, formerly known as The Kodak Theatre at the Hollywood & Highland Center, and home of the Academy Awards since 2002 -- a showcase of technology innovation. The agreement between CIM and Dolby will be for the same 20 years.

Shaul Kuba, Co-Founder of CIM Group, owners of the Hollywood & Highland Center said about the agreement, “Our ability to swiftly conclude two significant contracts with global entertainment leaders affirms Hollywood as a thriving district, the Dolby Theatre as the ultimate entertainment showcase, and Hollywood & Highland Center as a cornerstone for both the local and entertainment communities.”

Dolby is a global brand and industry leader in creating the best entertainment experiences.  During the term of the Dolby Theatre agreement, which will commence this summer, Dolby will continue the updating of the theatre with innovative, world-class technologies to ensure that the theatre remains state-of-the-art, beginning with the immediate installation of its recently released Dolby® Atmos™ sound technology.  Financial terms were not disclosed.

For 34 consecutive years, films released with Dolby audio technologies have earned Academy Award nominations for outstanding sound quality. The Dolby Theatre features 3,400 seats on four levels and 20 opera boxes, one of the largest stages in the United States with state-of-the-art infrastructure designed for a variety of programming including live broadcast.

CIM Group is a premier real estate fund manager that makes private equity and/or debt investments in urban communities throughout North America, utilizing its full array of investment and operational expertise to maximize returns while mitigating risks. With offices in Los Angeles, Bay Area, Bethesda and New York, CIM has three distinct portfolios each diversified by geography and type of property.

Of the deal, Academy President Tom Sherak said, “The Academy’s Board of Governors believes that the home for our awards is in Hollywood. It is where the Academy and the motion picture industry are rooted. We are pleased to have a new agreement with CIM that will continue our longstanding partnership.”

Millions of Oscar fans around the world will agree, and also be pleased as well because, like movies about the Titanic, the Oscars® will now go on and on.

LINKS FOR MORE INFORMATION

CIM Group   Dolby Laboratories   Academy of Motion Picture Arts and Sciences  

Billy Crystal Will Host Academy Awards!

Billy Crystal

Producers Brian Grazer and Don Mischer announced late today that Billy Crystal will serve as host for the 84th Academy Awards. "I'm thrilled to welcome Billy back to the Oscar stage," said President Tom Sherak of the Academy of Motion Picture Arts and Sciences. "He's a comic legend and Oscar icon, and it feels good to have him back where he belongs."

I, and some of my associates, family and friends were lobbying for Crystal, and we have experienced true wish fulfillment. Crystal is exactly the shot-in-the-arm the Oscar telecast needs, in my humble opinion.

This will mark Crystal's ninth time as host. Only Bob Hope hosted more Academy Awards presentations, with 19 ceremonies between 1940 and 1978. Crystal last hosted the Academy Awards in 2004. He has been sorely missed.

The big question now is, will he enter riding a horse? Then, everyone can truly say that Crystal road to the rescue of the Academy Awards. I know the Muppet's fans are disappointed in the choice of Crystal, but I will not be surprised if they make a special appearance. Now that this is settled, let the official Awards' Season begin!

Academy Awards for outstanding film achievements of 2011 will be presented on Sunday, February 26, 2012, at the Kodak Theatre at Hollywood and Highland Center, and televised live by the ABC Television Network. The Oscar presentation also will be televised live in more than 200 countries worldwide.

Ratner Resigned. Now, Murphy Walks As Well

Eddie Murphy

This from the Academy of Motion Picture Arts and Sciences late last night:

Academy of Motion Picture Arts and Sciences President Tom Sherak announced that Eddie Murphy has withdrawn as host of the 84th Academy Awards. "I appreciate how Eddie feels about losing his creative partner, Brett Ratner, and we all wish him well," said Sherak.

Commented Murphy, "First and foremost, I want to say that I completely understand and support each party's decision with regard to a change of producers for this year's Academy Awards ceremony. I was truly looking forward to being a part of the show that our production team and writers were just starting to develop, but I'm sure that the new production team and host will do an equally great job."

See previous post(s) about Ratner's replacement Brian Grazer, and more about the Oscar Awards Gala in February. No replacement has been announced for Murphy at this posting.

Ratner Resigns as Ocar Producer - Brian Grazer Steps Up

Producer, Brian Grazer

Brett Ratner, best known for directing the Rush Hour movies  reigned Monday as producer of the 84th Academy Awards. Sunday, he was at a fan Q&A session for the new movie Tower Heist when he made a Homophobic slur, "Rehearsal is for f*gs."

Yesterday, the Academy of Motion Picture Arts and Sciences issued this statement, "This morning, Brett Ratner submitted his resignation as a producer of the 84th annual Academy Awards. Ratner then issued an open letter to the entertainment industry in which he explained his decision." Click title of this post to read more.

Today, Academy President Tom Sherak announced  that Academy Award-winner Brian Grazer, current producer of Tower Heist and J. Edgar, will join Don Mischer as a producer of the Academy Awards to be broadcast in February 2012. This will be the first time Grazer has produced the Oscar telecast.

Grazer has earned four Academy Award nominations. He won a Best Picture Oscar in 2001 for A Beautiful Mind. In 1984, Grazer was nominated in the writing category for Splash, and he received Best Picture nominations in 1995 and 2008 for Apollo 13 and Frost/Nixon, respectively.

His other film credits include Spies Like Us, Kindergarten Cop, The Nutty Professor, Liar Liar, 8 Mile and Cinderella Man.

According to Sherak, Ratner, who has apologized to all at the Academy and others, did the right thing for the Academy and for himself.  Sherak said, "Words have meaning, and they have consequences. Brett is a good person, but his comments were unacceptable. We all hope this will be an opportunity to raise awareness about the harm that is caused by reckless and insensitive remarks, regardless of the intent."

Academy Awards for outstanding film achievements of 2011 will be presented on Sunday, February 26, 2012, at the Kodak Theatre at Hollywood and Highland Center, and televised live by the ABC Television Network. The Oscar presentation also will be televised live in more than 200 countries worldwide.