The Academy of Motion Picture Arts and Sciences and the Los Angeles County Museum of Art will join forces to develop a long-discussed museum of the movies. The museum would be housed in Lacma West, a former department store; although the space would be bigger than the original plans, the costs would be much less than the anticipated $400 million. From The New York Times, "Under the arrangement agreed to on Tuesday, the county museum will lease space and provide guidance for the movie museum, but the Academy will own and control the project and will establish an endowment for its support...The proposed museum would include newly gathered collections and material drawn from 42,000 movie posters and 10 million movie photographs that are mostly locked away in the Academy’s archives."

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