New Delhi, March 27 -- The Oscars are leaving Hollywood.

In 2029, the year the telecast moves from ABC to YouTube, the ceremony itself will move from its longtime home at the Dolby Theatre in Hollywood to downtown Los Angeles and the Peacock Theater, 9 miles (14.5 kilometers) away. The Academy announced Thursday that it has reached a 10-year agreement with AEG, which operates the L.A. Live complex where the Peacock Theater sits.

It's a surprising move, given that the Dolby was developed by the Academy of Motion Picture Arts and Sciences itself, expressly as a home for the Oscars. The ceremony has been held there since 2002 (with the exception of the COVID-driven downsized show at Union Station in 2021) and has provided an especially ste...