06/09/2015 17:53 EDT | Updated 06/09/2016 01:12 EDT

Nokia Theatre, home of the Emmys and ESPYs, renamed Microsoft Theater

LOS ANGELES, Calif. - Los Angeles' Nokia Theatre will now be known as the Microsoft Theater.Microsoft and theatre owner AEG announced Tuesday that the 7,100-seat venue is being rebranded. Microsoft Corp. acquired Nokia Corp.'s smartphone business last year.The theatre is in AEG's L.A. Live entertainment and shopping complex in downtown Los Angeles, across from the Staples Center.The venue has hosted more than 700 concerts and such ceremonies as the Emmys, BET Awards, American Music Awards, People's Choice Awards and MTV Video Music Awards. The next ceremony slated to take place there is the ESPY Awards on July 15.The 40,000-square-foot plaza outside the theatre will similarly be known as Microsoft Square, and the nearby 3,100-seat venue Club Nokia will also be rebranded.The Nokia Theatre opened in 2007.

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