Renzo Piano

Film academy museum names building for donor of $50M gift

The film academy is naming its main museum building in honor of Cheryl and Haim Saban, who have donated $50 million to the project.

The historic May Company building on Wilshire Boulevard's Miracle Mile will now be known as the Saban Building, officials from the Academy Museum of Motion Pictures said Wednesday.

Walt Disney Company chief Bob Iger, who is leading the museum's fundraising campaign, called the Sabans' donation "magnificent and transformative," adding that it brings the project within $100 million of its $388 million goal.

Haim Saban is the founder and chairman of Saban Capital Group, a private investment firm specializing in entertainment and...