The Hollywood cultural and historic landmark opened in 1927 by Sid Grauman will now be called TCL Chinese Theatre under the 10-year, $5 million deal with Chinese TV firm TCL Group. As part of the agreement, TCL will help fund improvements to the property and has agreed to sponsor a national and international marketing campaign to promote Hollywood and the iconic theater, according to the LA Times. “This is one of the landmarks of North America,” said Hao Yi, vice president of TCL Group. “It can be a bridge to link the cultures of China and North America.” The deal gives TCL, the world’s fourth-largest manufacturer of flat-panel TVs, an opportunity to gain a foothold in the U.S. This isn’t the first name change for the venerable theater. Ted Mann bought the cinema house in 1973 and for nearly 30 years it was called Mann’s Chinese Theatre. Warner and Viacom acquired the theater after the Mann chain filed for bankruptcy. Chinese Theatre, LLC acquired The Chinese Theatre and the Chinese 6 Theatres from Mann Theatres on May 27, 2011.