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October 19, 2012

Motion Picture Academy Raises $100-Million for Movie Museum

The Academy of Motion Picture Arts and Sciences unveiled design plans Thursday for the country's first major museum devoted to the movies, saying it has raised two-fifths of its $250-million goal for the project, The Hollywood Reporter writes.

The academy's board of governors approved on Wednesday the proposal by architects Renzo Piano and Zoltan Pali to revamp a historic, 300,000-square-foot Los Angeles property the nonprofit film group, which hands out the Academy Awards, is leasing from the Los Angeles County Museum of Art.

"The early response to our fundraising campaign has been outstanding and is incredibly encouraging," said Disney chief executive Bob Iger, chairman of the donation drive.