Spielberg and Katzenberg Donate $10M Each Toward Academy's Movie Museum

DreamWorks partners Steven Spielberg and Jeffrey Katzenberg donated $10 million each to the Academy of Motion Picture Arts and Sciences for its planned movie museum on the Miracle Mile, the Academy announced Tuesday.

The two main galleries on the museum's lobby floor will be named in their honor, according to the Academy.

"Steven and Jeffrey share a passion for movie-making and philanthropy," according to Academy Museum Campaign Chairman Bob Iger, also the president/CEO of The Walt Disney Co. "With these incredibly generous gifts, they are combining the two, moving us closer to our goal of building a museum to preserve the history of motion pictures and inspire the next generation of filmmakers."

The Academy, headquartered in Beverly Hills, is in the midst of a $300 million fundraising drive for the Academy Museum of Motion Pictures, which is planned for the Wilshire May Co. Building next to the Los Angeles County Museum of Art. More than half of the money has been raised, and the Academy is hoping for a 2017 opening.

The fundraising effort is co-chaired by Annette Bening and Tom Hanks.

"I am so pleased to join with Jeffrey to help build this museum to celebrate, educate and preserve the arts and sciences of motion pictures," Spielberg said. "Having our family name on the lobby floor is a deeply personal way to say how much motion pictures and the Academy have meant to all our lives."

The almost 300,000-square-foot Academy Museum of Motion Pictures will revitalize the historic department store building, which has been vacant or under-utilized for nearly 20 years, according to the Academy.

Visitors will be able to see items from the Academy's collection, which includes more than 140,000 films, 10 million photographs, 42,000 original film posters, 10,000 production drawings, costumes, props and movie-making equipment, according to the Academy.

- City News Service