Veteran Hollywood executive Jeff Sagansky is in talks to buy the Dolby Theatre, the Los Angeles venue that for more than 20 years has played host to the Academy Awards, according to Sagansky.
“We’re buying the Dolby Theater,” Sagansky told The Wrap’s editor-in-chief Sharon Waxman during the opening Spotlight Conversation at TheWrap’s TheGrill conference on Tuesday.
“Because it’s owned by CalPERS, and CalPERS basically does nothing,” Sagansky added. “It’s the only theater I’ve ever been in where there’s no concessions. You ever been in a theater where there was no concessions? So, you know, they just didn’t book it. They used it for the Academy Awards, a couple of other events.