The Oscars are leaving Hollywood

The Oscars are moving away from Hollywood — or at least from the mall on Hollywood Boulevard.

Starting in 2029, the Academy Awards will relocate from the Dolby Theatre, their venue for almost 25 years, to L.A. Live in downtown Los Angeles, as announced by the Academy of Motion Picture Arts and Sciences and AEG on Thursday. The event will take place in the theater currently called the Peacock Theater, which is anticipated to be renamed before the Oscars take place as part of a new naming rights agreement.

Since 2002, the event has been strongly linked with Hollywood Boulevard, where the red carpet is laid alongside the Walk of Fame, transforming the area into the symbolic heart of the film industry for one night each year. However, in some respects, leaving the Dolby is more of a return than a departure: The ceremony was held for years in downtown L.A. at the Dorothy Chandler Pavilion and the Shrine Auditorium before settling at the Dolby.