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Eric Garcetti Asks Who Should Be Next to Buy the Naming Rights to the Kodak Theatre
Photo by livingonimpulse via Flickr
The company Kodak has been on the decline, well, ever since digital cameras showed up on the scene. Now that the company is in bankruptcy court, it's hoping to get out of its contract to pay $75 million over 20 years for the naming rights of the Kodak Theatre, which has hosted the Academy Awards ever since it opened in 2002.
Councilman and mayoral candidate Eric Garcetti is asking if anyone has any suggestions for who might take over the naming rights for Kodak.
Today he tweeted: "Kodak wants out of naming rights (and costs) for Kodak Theatre due to bankruptcy. Who should we approach for naming rights? Ideas?"
It's not clear what Kodak backing out of its naming right might mean for the next Academy Awards. Anonymous sources have been saying that the Academy is shopping around for a new venue, like the Nokia Theatre after the 2013 awards. It's not clear if a new buyer of the naming rights could lure the Academy to stay in Hollywood, where it has been for the last decade.
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