 Kodak Theatre to be renamed amid company’s financial crisisFebruary 2, 2012 - 14:52 AMT PanARMENIAN.Net - Eastman Kodak Co. aims to cut costs in its restructuring by giving up its expensive naming rights to the Kodak Theatre, a modern Hollywood landmark that has been home to the Academy Awards for the past decade. Just weeks away from the 84th Annual Academy Awards broadcast, Kodak is seeking bankruptcy-court permission to escape the $75 million, 20-year sponsorship agreement it signed in 2000. Kodak, whose motion-picture film is not only used to make Oscar-winning movies but has also received its own golden Oscar statuettes for film science and technology, said the "significant annual fee" associated with the contract is no longer worth it. "The debtors have evaluated the contract in consultation with their professional advisers and determined that any benefit related to these rights likely does not exceed or equal the debtors' costs associated with the contract," the company said in court papers filed Tuesday, Jan 31, according to the Wall Street Journal.  Top stories The Jubilee Cannes Film Festival honored the legendary French director, the 89-year-old Alain Resnais. Brad Pitt doesn’t want his new film, the crime tale Killing Them Softly, to be viewed as an attack on President Obama According to the wiretapped conversations, Seki obtained the drugs from Sinan Yüksel, who is among 19 suspects. “The Master" features a sure-to-be-controversial look at the origins of a religion that sounds a whole lot like Scientology.   |  Latest news “Intouchables” screenings to be preceded by Paul McCartney-directed short  The three-minute short, based on an idea by the director’s daughter Stella, stars Johnny Depp and Natalie Portman.Weekly digest of foreign currency deals From May 14-April 20, AMD loans granted by banks totaled 29 bln, while USD loans amounted to 35 million.History re-written in "Abraham Lincoln: Vampire Hunter" trailer (video) The gruesome and graphic trailer features an ax-wielding Benjamin Walker on a mission to avenge his mother's death.Grant Bowler to star opposite Lindsay Lohan in Elizabeth Taylor biopic Bowler, whose recent credits include the now-canceled ABC primetime soap GCB, will play Burton in the telefilm. |
