Oscar's House: Academy Awards to stay put in Hollywood, at the renamed Dolby Theatre.

Squashing rumors that the Oscars were headed out of Hollywood to L.A. Live’s Nokia Theatre in downtown Los Angeles, The Academy of Motion Picture Arts and Sciences have announced that it is staying put for the next twenty years at the Hollywood & Highland Center through 2033.

The venue, formerly called the Kodak Theatre, has also signed a 20-year agreement with Dolby Laboratories to rename the facility, and will enhance the theater’s sound system to showcase its technologies.

"The academy's board of governors believes that the home for our awards is in Hollywood," said Tom Sherak, academy president. "We are pleased to have a new agreement with CIM that will continue our longstanding partnership."

Sources: The Los Angeles Times and the NY Daily News

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