The Film Academy’s Annual Report Shows Assets Way Up, But Bond Proceeds Going Fast

Read on: Deadline.

The Academy of Motion Picture Arts and Sciences on Friday sent members its annual report for the fiscal year ended June 30, 2018, along with a video review of the year. As predicted, the big number was really big: Total assets of the nonprofit rose to …

When The Film Academy Reports Its 2018 Finances, Look For Assets To Top $1 Billion

Read on: Deadline.

It’s that time of year again—not just for the Oscars, but for an annual financial report from the Academy of Motion Picture Arts and Sciences, which grants them.
Based on recent practice, it’s likely that Academy members will get a look at their …

Why Haim and Cheryl Saban’s $50 Million Donation to Academy Museum Almost Didn’t Happen

Read on: Variety.

Haim and Cheryl Saban’s $50 million donation has landed them their name on the Academy Museum of Motion Pictures building on Miracle Mile in Los Angeles, but the billionaire philanthropists’ contribution to the project almost didn’t happen. Durin…

Academy Museum To Launch With Hayao Miyazaki, Black Cinema Exhibits

Read on: TheWrapTheWrap.

Kerry Brougher, director of the Academy Museum of Motion Pictures, on Tuesday announced the museum’s first exhibitions when it opens in late 2019.

The museum’s inaugural exhibits will include a retrospective of the films of Japanese animator Hayao Miyazaki and an “unprecedented exploration” of Black Cinema.

The museum will also open with a long-term exhibition that explores the evolution of film from its beginnings to its “possible futures.” The working title of the exhibit is called “Where Dreams Are Made: A Journey Inside the Movies” and will occupy two floors of the museum’s Saban Building, formerly known as the May Company building. The exhibit will look at the development of the art and science of motion pictures.

Also Read: Academy Museum COO Rich Cherry to Resign Less Than a Year After Taking Job

The Miyazaki retrospective, the first of their temporary exhibits, is presented in collaboration with the filmmaker’s Studio Ghibli and is the first major exhibition of Miyazaki’s work presented in the United States.

“Regeneration: Black Cinema 1900-1970,” which will open in Fall 2020, is described as revealing the under-recognized history of African American filmmakers in the development of American cinema, starting from the advent of motion pictures up through the Civil Rights era.

Additional exhibitions will include a making of “The Wizard of Oz” and a history of the Academy Awards.

Also Read: ‘Princess Mononoke’ Turns 20: 10 Things You Probably Didn’t Know About The Animated Classic (Photos)

“We want the Academy Museum to add to the public’s understanding of the evolution of the art and science of filmmaking around the world–to increase appreciation for this great art form and encourage people to examine the role of movies in society. At the same time, we want to bring to life the most important reason of all for caring about the movies–because they’re magic. That’s why we intend to transport our visitors into a world that exists somewhere between reality and illusion. Like the experience of watching a movie, a trip to the Museum will be a kind of waking dream in which visitors feel as if they’ve slipped through the screen to see how the magic is created,” Brougher said in a statement.

“The Trustees and I are tremendously proud to see how the exhibitions of the Academy Museum are coming together. Thanks to the extraordinary creative team that Kerry has assembled, these experiences are going to be beautiful and engaging, thoughtful and surprising. The art of film, and our new Academy Museum, deserve nothing less,” NBC Universal’s Ron Meyer and Chairman of the Academy Museum’s board said in a statement.

“It’s been 90 years since the founders of the Academy proposed creating a museum of film in Los Angeles. How thrilling to be able to deliver on that dream. The Museum’s exhibitions are as expansive and imaginative as the movies we love. With its piazza and open spaces, the Museum will be a gathering place for film lovers and will invite people from all over the world to re-experience and deepen our collective love of this art form, accessible to all,” Academy CEO Dawn Hudson said.

Also Read: ‘First Man’ and ‘Black Panther’ Among 20 Films Advancing in Oscars VFX Race

“The Academy Museum is the realization of a long-held Academy dream to preserve movie history and to bring it into the lives of filmmakers, scholars, young people, and the worldwide public. The great resources and dedicated work of the Margaret Herrick Library and the Academy Film Archive provide a foundation for the Museum’s extraordinary installations and changing exhibitions. This Museum, created and supported by working filmmakers, will present the story of the movies in ways beyond what a traditional historical film museum can offer,” John Bailey, John Bailey, President of the Academy’s Board of Governors, said in a statement.

The Academy Museum will be located on Wilshire Boulevard and Fairfax Avenue in Los Angeles. It’s designed by Renzo Piano, restoring the historic Saban Building.

It will feature six floors, including exhibition spaces, the 288-seat Ted Mann Theater, an education studio, special event spaces, conservation areas, a café, and store. The new spherical addition will connect to the Saban Building via glass bridges and will feature the 1,000-seat David Geffen Theater and the rooftop Dolby Family Terrace.

The Academy is currently raising $388 million to support the building, exhibitions, and programs of the Academy Museum. The campaign for the Academy Museum was launched in 2012, headed by chair Bob Iger and co-chairs Annette Bening and Tom Hanks.

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Film Academy Paid Its Governors $1M For Work On Oscars, Museum & Governors Awards In Past Decade-Plus

Read on: Deadline.

Members of the Film Academy’s board of governors serve without pay, but some are rewarded handsomely for their service. Since 2005, the Academy of Motion Picture Arts and Sciences has paid out more than $1 million to its governors for services related …

Academy Museum COO Rich Cherry to Resign Less Than a Year After Taking Job

Read on: TheWrapTheWrap.

Rich Cherry, the Chief Operating Officer of the Academy of Motion Picture Arts and Science’s museum project has resigned his position.

According to an Academy spokesperson, Cherry, who has been in the position for just under a year, will remain on with the project through the end of February. No reason was given for his departure.

“The Academy is grateful to Rich Cherry for his service over the past year as our Chief Operating Officer,” the spokesperson said in a statement. “During his time with the Museum, he helped guide us effectively through a critical period of construction and institutional planning. Rich will remain with the Museum through the end of February. We wish him success as he focuses on his museum consultancy firm. The Museum has begun a search for the next COO.”

Also Read: Ron Meyer, Tom Hanks, Jason Blum Named to Academy Museum’s New Board of Trustees

Cherry joined the project last February after previously overseeing construction on The Broad museum in downtown Los Angeles.

Housed in a 300,000-square-foot facility designed by architect Renzo Piano, the Academy Museum will house gallery space, two theaters, cutting-edge project spaces, an outdoor piazza, the rooftop terrace with sweeping views of the Hollywood Hills, an active education studio, a restaurant and store within two buildings, one a giant glass sphere.

The building’s construction has been dogged by setbacks and delays since it first broke ground. The museum was originally scheduled to open in 2017, a timeline that has since been pushed back to 2019.

Related stories from TheWrap:

Ron Meyer, Tom Hanks, Jason Blum Named to Academy Museum’s New Board of Trustees

Dolby Contributes $12 Million to Academy Museum

Steven Spielberg, Jeffrey Katzenberg Donate $10 Million Each for Academy Museum

Academy Museum’s Chief Operating Officer Rich Cherry to Resign

Read on: Variety.

Rich Cherry, the chief operating officer of the Academy of Motion Picture Arts and Science’s yet-to-open film museum, has resigned after one year in the position. AMPAS made the announcement Wednesday evening in a statement that said Cherry would depart at the end of February. It did not explain why he was leaving. “The Academy […]

Rich Cherry, Chief Operating Officer Of Film Academy Museum, Is Resigning After Barely A Year In Place

Read on: Deadline.

Rich Cherry is resigning as Chief Operating Officer of the Film Academy’s under-construction movie museum after barely a year on the job, an Academy Museum spokesperson confirmed on Wednesday. In a statement, the spokesperson said Cherry would leave at the end of February. “We wish him success as he focuses on his museum consultancy firm.” the statement said. “The museum has begun a search for the next COO.”
In an email, the spokesperson said Cherry was ill and…

Ron Meyer, Tom Hanks, Ted Sarandos Among Academy Museum Trustees

Read on: Variety.

The Academy of Motion Picture Arts and Sciences has announced its board of trustees for the organization’s movie museum project, to be headed by NBCUniversal vice chairman Ron Meyer. Others on the board include Academy president John Bailey, Academy CEO Dawn Hudson, Netflix chief content officer Ted Sarandos, producer Jason Blum, and Academy Board of […]

Academy Museum Gets Funding From Netflix, Charles Roven, Bloomberg Philanthropies

Read on: Variety.

The Academy Museum of Motion Pictures has received contributions from Netflix, Bloomberg Philanthropies, producer Charles Roven, and Tom Spiegel — bringing the delayed project to nearly 80% of its $388 million funding goal. The museum project has been beset by cost overruns and remains more than $78 million shy of its revised budget. The Academy Museum […]

Academy Switches Builders for Museum Project

Read on: Variety.

The Academy of Motion Picture Arts and Sciences announced Saturday that it has switched construction companies for the forthcoming Academy Museum. The long-awaited project began construction a year ago on the site of the May Company building on Wilshire Boulevard and Fairfax Avenue. Morley Builders and Taslimi Construction were hired to renovate the 1939 Streamline… Read more »

At Hollywood’s Film Academy, Debt Is Up, Revenue Down And Awards Income About Even

Read on: Deadline.

Assets of the Academy of Motion Picture Arts and Sciences surged in the fiscal year ended June 30, 2016, to $884.1 million from $549.1 million the year beforeaccording to an annual report that was posted Tuesday on the group’s website. But liabilities also rose, to $392.4 million from $101.2 million in 2015, as the Academy became a heavy borrower in its quest to build a much-delayed movie museum.
In all, debt jumped to $354.4 million from just $61.6 million the year…