It’s generally seen as bad form for a bankrupt company like Kodak to have its name plastered on a theater as a title sponsor. Kodak, which filed for Chapter 11 protection last month, has realized it would have a lot more cash to burn if it could wriggle out of a $75 million, 20-year commitment to slap its name on the Kodak Theatre, which hosts the Academy awards.
The Wall Street Journal (subscription required) reports Kodak is asking the bankruptcy court to let it spend the money on better things than venue naming rights.
Kodak entered the deal in 2000. If the company is successful in peeling its name off the theater, prepare for next year’s Oscars telecast at The Theatre Formerly Known As Kodak.