Los Angeles’ Dolby Theatre, the longtime home of the Academy Awards ceremony, was sold to an investment group led by producer Elie Samaha.
According to Hollywood Reporter coverage, Samaha’s JEBS Hollywood Entertainment LLC acquired both the 180,000-sq-ft Dolby Theatre on Tuesday along with surface parking lots totaling 1.45 acres. JEBS Hollywood Entertainment that also includes SMB Equities’ Sherwin Jarol, former Sony Pictures exec Jeff Sagansky, LAZ Parking founder Jonah Lazowski, United Arab Emirates Sheikh Abdulla Bin Mohamed Al Qasimi’s Master Investment Group and a firm titled Two Girls Holdings, LLC.
The financial terms of the deal were not disclosed. Samaha, whose producing credits include such diverse titles as the cult classic “The Boondock Saints” and the infamous sci-fi stinker “Battlefield Earth,” also owns Los Angeles venues including the TCL Chinese Theatre, the Fox Theatre and the Vogue Theatre.
The 3,400-seat Dolby was previously owned by California Public Employees’ Retirement System and managed by Canyon Partners. The venue has hosted the annual Academy Awards presentation since 2002.
“The new ownership intends to continue its association with the Academy Awards while significantly increasing the number and variety of live performances, including many renowned Latin and other international acts,” said Chris Bonbright, the Avison Young principal and managing director who represented the buyer.
Photo: Adam Fagen / Wikimedia Commons
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