David Geffen Donates $25 Million to Academy Museum

Academy of Motion Picture Arts and Sciences will name theater after the music and movie mogul when museum opens in 2017 in Los Angeles

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    David Geffen (L) and guest attend The 53rd Annual GRAMMY Awards held at Staples Center on February 13, 2011 in Los Angeles, California.

    Music and movie mogul David Geffen has kicked in $25 million for a film museum planned by Academy Awards overseers.

    The Academy of Motion Picture Arts and Sciences announced Monday that the David Geffen Foundation made the donation for the museum scheduled to open in 2017 next to the Los Angeles County Museum of Art.

    It's the largest contribution yet in the academy's $300 million fund drive for the museum.

    In recognition, the academy is naming a theater at the facility after Geffen.

    Record company executive Geffen founded DreamWorks Pictures with Steven Spielberg and Jeffrey Katzenberg.

    Geffen says the museum will provide a permanent home for the academy's tradition of "honoring the shining stars of the cinematic arts."