LOS ANGELES, CA.- The Academy Museum of Motion Pictures announces a landmark donation of $50 million from philanthropists Cheryl and Haim Saban. This commitment—the largest gift to the Academy Museum Campaign—brings the museum’s fundraising success to $288 million, nearly 75% of its $388 million goal. In recognition of their generosity, the May Company Building will now be named the Saban Building. The Museum further announces that Ron Meyer, the distinguished entertainment industry executive, will head its newly established Board of Trustees. Meyer is Vice Chairman of NBCUniversal and with 23 years as the head of the studio, he is the longest serving studio chief. He is also a co-founder and former President of Creative Artists Agency. In addition, the Museum also unveils a first glimpse at concepts for the museum content, including the permanent exhibition, located in the 1939 former May Company building on Wilshire and Fairfax in Los Angeles. The first of its scope and scale devoted to exploring the art and science of movies and moviemaking, the Renzo Piano Building Workshop-designed Museum is scheduled to open in 2019.

Kerry Brougher, Director of the Academy Museum, says, "We could not be happier with the momentum the museum is experiencing on all fronts—from fundraising and governance to content and construction. We are thankful to Cheryl and Haim Saban and to Ron Meyer for their vital support and leadership in bringing the Academy Museum to the world."

Bob Iger, Chairman and CEO of The Walt Disney Company and Chair of the Museum Campaign Committee, says, "We are deeply grateful to Cheryl and Haim for understanding the need for a superb museum of film in the moviemaking capital of the world. With their tremendous commitment, they set a magnificent example for others and bring our dream closer to reality."

Cheryl and Haim Saban have demonstrated a lifetime of passionate devotion to philanthropic endeavors and have donated over $325 million to charitable organizations to date. Together, the Sabans started the Saban Family Foundation in 1999, which supports medical, children's and education programs, including Children's Hospital Los Angeles, the Saban Community Clinic, Soroka Children's Hospital in Israel, the Motion Picture and Television Fund, the Friends of the IDF, the Saban Leadership Seminars through the American Israel Education Foundation, the Brookings Institution, the Saban Theatre, Cedars-Sinai Medical Center, and the Academy of Television Arts & Sciences Foundation.

Haim Saban, Chairman and CEO of Saban Capital Group, Inc., and his wife Cheryl, say, "We are delighted to further our commitment to Los Angeles with this gift to the Academy Museum of Motion Pictures. This new home for film will offer incredible experiences for visitors from our community and around the world to enjoy the rich history of our industry. We feel honored to contribute to its creation and thrilled to have our name associated with this historic building and visionary project."

Ron Meyer says, "I am proud, and humbled, to chair and build the Academy Museum’s new Board of Trustees. The museum has already made great strides in raising funds and developing plans for what will become an essential cultural destination for Los Angeles. It is an honor to be part of such a significant project."

John Bailey, President, Academy of Motion Picture Arts and Sciences, says, "Thanks to the vision of the Academy’s Board of Governors, our goal for a museum celebrating the art and sciences of the movies is around the corner. We are proud of our collaborative achievements and believe Ron Meyer, and his Board of Trustees, will be excellent stewards for our project moving forward."

Mayor Eric Garcetti says, "People from across the globe come to Los Angeles to be inspired, and to see things they have only imagined become real through storytelling. It is only fitting that the filmmaking capital of the world will soon have a space dedicated to its industry and artistry. The Academy Museum of Motion Pictures will add another world-class institution to our city’s cultural landscape, and touch the lives of Angelenos and visitors for generations to come."