Hollywood & Highland site owner CIM announced on Tuesday (May 1) two 20-year deals, closing a deal with Dolby to rename the venue formerly knows as the Kodak Theatre and signing a deal to keep the Academy on-site through 2033.

“The Academy’s board of governors believes that the home for our awards is in Hollywood,” Academy president Tom Sherak said.

“It is where the Academy and the motion picture industry are rooted. We are pleased to have a new agreement with CIM that will continue our longstanding partnership.”