The Academy Museum's ambitious, $300-million capital campaign collected another major gift this week, from Dolby Laboratories.
The San Francisco-based audio company made a $12-million contribution — $7 million in technology for the future museum's theaters and $5 million for its capital campaign, the Academy of Motion Picture Arts and Sciences announced Tuesday.
In recognition of the Dolby gift, the academy will name the museum's rooftop terrace the Dolby Family Terrace.
The announcement comes as the museum's five-year capital campaign, headed up by Walt Disney Co. chairman and CEO Bob Iger, is nearing its finish line early.
The campaign has secured $225 million in pledges since its launch in 2012, including $10 million each from Jeffrey Katzenberg and Steven Spielberg and $20 million from China's Dalian Wanda Group, owners of AMC Theaters.
Scheduled to open in 2017, the Academy Museum will be located next to the Los Angeles County Museum of Art in the Wilshire May Company building. Designed by architects Renzo Piano and Zoltan Pali, the Academy Museum and will contain more than 290,000 square feet of galleries, exhibition spaces and theaters.
The academy is hoping to break ground on the museum by the end of the year.
In October, the group will open the Hollywood costume exhibition, which is traveling from London's Victoria and Albert Museum, on the site.
Fundraisers are using that event as a lure for potential donors as well, with gifts starting at $250 for tickets to the exhibition. For $100,000, donors are offered a curator-led tour, private reception and invitations to a groundbreaking gala.