Following Kodak’s recent bankruptcy filing, the company now wants to remove its name from the famous Kodak Theatre which houses the annual Academy Awards, Reuters reported.

On Feb. 1, Kodak asked a U.S. bankruptcy court to void an estimated 4-million-a year naming rights contract.

The contract, which Kodak signed way back in 2000, is said to be worth $75 million over 20 years.

As of last month, The Hollywood Reporter stated that the company has been current on its payments.

According to Reuters again, the move signifies Kodak’s steps to preserve cash and restructure operations.

Will the Oscar nominees still get their Kodak Theatre moment now?





[via Reuters]


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