MUMBAI: The venue for the Oscars has been renamed. The 3,400-seat theatre, formerly known as the Kodak Theatre, re-opened on Monday with a new audio-visual system and new signage as the Dolby Theatre.

Dolby Laboratories Inc. announced a 20-year deal with Hollywood & Highland Center owner CIM Group last month to rename the theatre that has hosted the Academy Awards since 2002.

The audio-visual technology company outfitted the four-level venue with its Dolby 3D and Dolby Atmos projection and audio systems. Besides the Oscars, the Hollywood theatre is home to the Cirque du Soleil production Iris and will host the world premiere next Monday of the Disney-Pixar film Brave, which will be the first feature film released utilizing the Dolby Atmos technology.

"It‘s an incredible day for us," sDolby President Kevin Yeaman has reportedly said after a demonstration Monday of the theatre‘s new audio-visual systems. "We‘ve been hard at work coming up with Dolby Atmos and Dolby 3D and looking for a way to tell that story and connect with audiences around the world. When this opportunity came up, we couldn‘t pass it up," he added.

CIM Group dropped the Kodak name from the theatre ahead of the Oscars earlier this year after a bankruptcy court judge approved the early exit of 131-year-old Eastman Kodak Co. from a 20-year naming rights deal it signed with them in 1999.

The 85th annual Academy Awards is scheduled to be held at the Dolby Theatre on 24 February next year.