Kodak wants out of Tinsel Town.
Eastman Kodak Co., in a filing in its bankruptcy court case in New York this week, asked to be released from its 2000 naming rights deal with the Hollywood Boulevard theater that hosts the Oscars. Under the contract, the company had the naming rights “in exchange for a significant annual fee.”
The move by the photographic film company comes after it filed for bankruptcy last month faced with a flailing business model born in the pre-digital age. It also comes as discussions have begun to move the annual Academy Awards ceremony out of Hollywood and to the Nokia Theatre in downtown Los Angeles.
Taken together, the moves would strike a significant hit to the Kodak Theatre, which was built to suit the needs of the academy and has been the anchor of an entertainment complex on Hollywood and Highland. The landlord for the theater, CIM Group, declined to comment.