Oscars Kodak Theatre changes name to Dolby Theatre

After the bankruptcy of film lab Kodak and their attempts to renege on a sponsorship deal with the historic Kodak theatre, there was some speculation over whether the cinema would continue to be the venue of choice for Tinsel Town's most illustrious ceremony.

The space was fortunately retained for the 2012 ceremony, at which 'The Artist' triumphed, but with its financial future uncertain - there were no guarantees after that.

Now Dolby Laboratories have announced a new sponsorship deal that will see the cinema renamed the Dolby Theatre for the next 20-years.

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The deal will also see the Oscars locked to the venue until at least 2033. Now that's stability for you.

Speaking to The Hollywood Reporter, Tom Sherak, president of the Academy of Motion Pictures Arts and Sciences, said:

“We wanted to be in Hollywood. The Academy Awards belong in Hollywood. Dolby is a proud industry name.”

Dolby, meanwhile, say they will use the prestigious space to “create a world-class showcase for Dolby’s current and future technologies.”