One of the most famous landmarks in Hollywood is getting a new name, the Los Angeles Times reports. For the next 10 years, Grauman’s Chinese Theater — a landmark renown for the impressions of stars’ handprints and footprints in the cement outside the entry — will be called TCL Chinese Theatre, the story reports.
Chinese TV maker TCL purchased the naming rights for the theater for $5 million, according to the report, with the licensing deal to be in effect for 10 years. In the U.S., TCL owns the RCA TV brand.
Showman Sid Grauman first opened the theater in 1927. Today, nearly 4 million visitors annually go to the venue, which is located on Hollywood Boulevard. Commenting on the transaction, Hao Yi, vice president of TCL Group, said, "This is one of the landmarks of North America. It can be a bridge to link the cultures of China and North America."
This is the second new name for the venue. In 1973, Ted Mann, owner of an Encino, Calif.-based theater chain, bought the cinema house, and called the place Mann’s Chinese Theatre. After the Mann’s chain filed for bankruptcy, Warner Bros. and Viacom acquired the theater. The name reverted back to Grauman’s in 2001.
Grauman’s Chinese Theatre