The Academy of Motion Pictures and Sciences (AMPAS) has confirmed plans for a new motion picture museum to be located in former department store owned by the Los Angeles County Museum of Art (LACMA), reports the Wrap.
Although details are scarce, the two organizations have signed an agreement that will get the ball rolling in terms of fundraising, design, and renovation plans.
“It is appropriate and long overdue for the city that is home to the motion picture industry to recognize this art form with a museum of its own," said LACMA co-chair (and longtime Warner Bros. executive) Terry Semel in a statement announcing the alliance. "The LACMA Board is delighted to be facilitating this important cultural event, which has special resonance for me, having spent most of my life dedicated to the great art of movies."
AMPAS president Tom Sherak added, "The new museum will be a world-class destination that is a tangible representation of the Academy’s mission. And the idea of our museum being part of a larger cultural center for the arts, in this city that we love, was incredibly compelling to the Academy Board."