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Commercial Real Estate | BRIEFS

Arena's Operator Anschutz to Manage New Theater for Oscars

November 21, 2000|From a Times Staff Writer

The developers and operators of Staples Center in downtown Los Angeles have been hired to manage the new 4,000-seat theater that will serve as the permanent home for the Academy Awards show in Hollywood. Anschutz Entertainment Group will manage the Kodak Theatre as part of a partnership formed with Canadian developer TrizecHahn Development Corp., which is building the theater as part of the $567-million Hollywood & Highland real estate project. Anschutz will receive a portion of the theater's revenue, but officials would not disclose financial details of the partnership. "Anschutz Entertainment Group has established great working relationships with talent, booking and production companies to produce one-of-kind events," said TrizecHahn Development President Lee Wagman. "They are also well-respected marketers when it comes to promoting those events." The theater, which is scheduled to host its first Academy Awards ceremony in 2002, will feature more than 100 events in its first year of operation. In addition to Staples Center, Anschutz owns and manages the Great Western Forum in Inglewood.

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