Bankrupt Kodak said in court filing this week that it wants its name taken off the Kodak Theatre at Hollywood & Highland, the home of the Academy Awards since 2001. The company said the move to relinquish naming rights will save it serious cash as it begins bankruptcy proceedings after filing for Chapter 11 protection earlier this month. “The debtors have evaluated the contract in consultation with their professional advisers and determined that any benefit related to these rights likely does not exceed or equal the debtors’ costs associated with the contract,” according to court documents filed Tuesday. This year’s Oscars are February 26, and it remains unclear whether Kodak’s name will be on the theater’s front doors at that time.
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This article was printed from http://www.deadline.com/2012/02/wsj-kodak-wants-name-off-oscar-venue/
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