The Academy Signs New 20-year Deal with CIM Group to Stay in Hollywood

On Tuesday, the Academy of Motion Picture Arts and Sciences have just announced some very exciting news. The film academy has officially signed a new 20-year agreement with CIM Group that will allow the annual Academy Award to stay in Hollywood through 2033. That’s right the awards will be shown at the Hollywood & Highland Center, which has been its home since 2002.

Many are excited that the agreement has finally put the rumors to rest about the academy’s board of governors possible relocation of the awards ceremony to Nokia Theatre and the L.A. Live complex downtown. However, a move downtown would have provided much more available room for outdoor activities, including twice as much room.  Many were not pleased with the idea. Not to mention, the theater was built specifically for the Academy Awards.

The Academy president, Tom Sherak could not agree more, “The academy’s board of governors believe that the home for our awards is in Hollywood.” He went on to state, “We are pleased to have a new agreement with CIM that will continue our longstanding partnership.”

Source: The Envelope La Times

Like Haute Living Los Angeles? Join our Facebook page or follow us on Twitter @HauteLivingLA. Want Haute Living Los Angeles delivered to your inbox once a week? Sign up for our newsletter.