Fresh off filing for Chapter 11 bankruptcy, the Eastman Kodak Company wants out of their naming rights deal at the theater on Hollywood and Highland and home of the Academy Awards.
The 131-year-old company asked a U.S. bankruptcy court judge Wednesday to release them from its $75 million naming rights deal with the CIM group, which owns the complex.
“Kodak is proud of its important role in the Entertainment industry, and our long standing relationship with film makers,” Kodak spokesman Christopher Veronda said in a statement. “Our motion today reflects our commitment to ensure that we are maximizing value for our entertainment customers, creditors and other stakeholders.”
No word of when and if the request will be granted, but will likely take place after this year’s Oscars on Feb. 26.