Times Square's Nokia Theatre to be Renamed Best Buy Theatre with Upgrades, 9/14

According to the New York Times, the Times Square's Nokia Theatre will officially be renamed the Best Buy Theater on September 14, 2010. After the renaming, the theater will add new high definition screens, a lounge with displays of some of Best Buy's products, and better acoustics equipment. Best Buy will also use the theater as a space to host corporate events and promote new products.

A spokesperson from Best Buy said that this will be the company's first venture into gaining rights for an entertainment venue. Best Buy's chief marketing officer, Drew Panayiotou says of the venture: "If you're going to shows, and you're going to shows in Times Square, then you're the kind of customer we want to build a relationship with."

A Nokia spokesperson said that the company wanted to focus on "reaching customers where they consume content, online, as opposed to at a physical venue," which was part of the reason they didn't renew the Times Square deal.

To read the full report in the New York Times, visit www.nytimes.com/2010/08/18/arts/music/18bestbuy.html.

NOKIA Theatre Times Square is a 2100-capacity venue operated by AEG Live and designed by the award-winning architect David Rockwell of the Rockwell Group. The venue officially opened in September 2005, and has the capability to hold a wide array of events, including concerts, live television, web broadcasts, live recordings, award shows and event parties.

The marquee is an 85-foot long LED high definition screen which can display both live and digital video. It is one of the largest marquees on Broadway, and is directly connected to the MTV marquee. Its interactive text messaging capabilities and the ability to broadcast events live from the stage directly to the marquee (in real time) make it truly impressive, to say the least. For more information on events in the venue, visit nokiatheatrenyc.com.