Report: Academy considers leaving the Kodak Theatre

Still a long way before anything happens, but the Academy of Motion Picture Arts & Sciences has exercised an opt-out clause that allows it to consider other venues after the 2013 show. One potential concern, reports THR, is the financial future of Eastman Kodak, which acquired naming rights to the theater in 2000.

The Academy governor who spoke with THR insists the group is not unhappy with the Kodak Theatre. It simply was a prudent business decision to explore all options. The group actually likes the venue, this person said, and prefers to keep the ceremony in Hollywood. But it will depend on the deal the group is offered in comparison to other possible arenas that are available.

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The Kodak has significant advantages over some other Los Angeles theaters. It has one of the largest stages anywhere, which measures 113 feet wide by 60 feet deep. It has a special cockpit for camera, sound and stage management in the orchestra seating area. It also has underground cabling to connect it to trucks and other equipments outside the theater.

The theater had been somewhat of a white elephant over the years, but Cirque du Soleil's long-term deal will have the venue filled for much of the year. Among the obvious Oscar possibilities is the Nokia Theater at L.A. Live.