Hollywood landmark Grauman's Chinese Theatre will get a new name and some upgrades after a more than $5 million naming rights deal with Chinese electronics company TCL, the Los Angeles Times reported.
The Hollywood Boulevard theater, first opened in 1927, will now be called the TCL Chinese Theatre, according to the Times.
Improvements to the theater are planned as part of the 10-year licensing deal, the Times reported, including stadium seating and a new extra-wide screen.
Planned improvements include a new extra-wide screen, stadium seating, superior sound and projection systems, and a new box-office marquee on Hollywood Boulevard.
The deal will be announced Friday, the Times reported. Street closures are planned near the Chinese Theatre as part of the announcement.
Read the full Times report here.