UPDATE, 1:15 PM Saturday: Hollywood & Highland and Dolby Theatre owner CIM said today it will continue payments on the $30 million loan provided by Los Angeles city officials to lure Cirque du Soleil to the theater. CIM Group spokeswoman Karen Diehl issued a statement saying payments would be made as scheduled on the city loan OK’d by the City Council and Mayor Antonio Villaraigosa. “The loan is current, and CIM will repay the entire obligation of the loan in full,” the statement said.
PREVIOUSLY, 5:43 PM Friday: The Dolby Theatre will need to find a new tenant after the Oscars. Cirque du Soleil‘s IRIS, which has been the theater’s main tenant since Dolby took over sponsorship of the former Kodak Theatre on May 1, is closing earlier than expected. “After close to 500 well received shows at the world renowned Dolby Theatre, the last performance of Cirque du Soleil’s IRIS will be January 19, 2013. Despite phenomenal reviews and enthusiastic audience response, demand has not met projections”, Cirque senior director of communications Renée-Claude Ménard told Deadline in a statement late today. IRIS was originally scheduled to temporarily stop production on January 26, 2013, to allow time for set up of the Oscar show on February 24. IRIS was then expected to return to the Dolby in March to continue its run, but that now clearly is not going to happen. Ménard added that they would “redeploy as many of our artists and employees as possible to other Cirque du Soleil projects”. A 20-year deal was announced between Dolby and property owners CIM on May 1 that was contingent on the Academy Awards remaining at the venue. The Academy signed a 20-year deal with CIM the same day. Neither Dolby nor CIM responded to request for comment.
Disney/Pixar’s Brave will bow at the newly named Dolby Theater in Dolby’s new Atmos sound system after all. The company announced today that the 3D animated film will have its June 18 world premiere screening at the Hollywood & Highland … Read More »
The audio company unveiled the marquee at a ceremony at Hollywood & Highland this evening. Dolby took over sponsorship of the former Kodak Theatre on May 1. At that time, a 20-year deal was announced between the company and property … Read More »
There is still no guarantee that the June 18 world premiere of Disney/Pixar’s Brave at the newly named Dolby Theatre will feature Dolby’s new Atmos sound. The “life-like sensory experience” is among the tech upgrades the company is undertaking at the … Read More »
Dolby Laboratories today is giving the media the first glimpse of its new digs, formerly known as the Kodak Theatre. The company already has added some signage on the inside … Read More »
Disney/Pixar’s Brave is set to mark the grand opening of the newly named Dolby Theatre on June 18 when it has its world premiere at the Oscars‘ Hollywood & Highland home. But Dolby’s new … Read More »
Dolby’s newly announced 20-year agreement to see its name up in front of the home of the Oscars, formerly known as the Kodak Theatre, is contingent on the Academy Awards staying at the Hollywood & Highland location. “As long as the Oscars are there, the Dolby Theatre will be there,” Ramzi Haidamus, Dolby Laboratories Executive VP Sales and Marketing said today in a conference call announcing the deal. Haidamus would not reveal financial terms of the deal Dolby made with landlord CIM Group other than to note that Dolby does have an opt-out clause if the Academy of Motion Pictures Arts and Sciences — who announced their own 20-year deal with CIM Group today — decides to move the Oscars from the present location. Haidamus also said that part of the contract called for frequent mentions of the Dolby Theatre during the Oscarcast. “This is much much more than putting our name on a building,” he said. “We’re looking at it as a broadcasting opportunity, a streaming opportunity and all types of branding opportunities.”|
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EXCLUSIVE: Just as Deadline predicted, the Academy Awards are staying put at Hollywood & Highland for the next 20 years in the former Kodak Theatre now named the Dolby Theatre, sources tell me. Kodak filed for bankruptcy … Read More »