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Posted: March 11, 2008

Museum Uses Naming Rights to Cancel Debts

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Raleigh, N.C. — A local museum is using its new name to get out of debt.

Exploris owed nearly $5 million to several banks, and Wake County commissioners on Monday approved a plan to sell naming rights to various parts of the museum in exchange for the debts to be forgiven.

Wachovia purchased the naming rights for the IMAX theater at the museum, now known as Marbles Kids Museum after a merger last fall with Playspace, another downtown children's attraction.

The county owns the downtown museum where the museum and theater are housed, and hotel and meals taxes help fund their operations.

RELATED TOPICS: Wake County

Copyright 2011 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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4 Comments


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Latest Comments
Why are we continuing to give tax money to what should be a private business?
Click to view my profile colliedave
March 11, 2008 4:43 p.m.
It is a work in progress, but is quite popular. It is a lot more "play" than "museum", for better or worse. There aren't exhibits, but play areas like a boat, stage, various building (wood blocks, legos), oversized games (chess, checkers, connect four), etc.

Moore Square *is* a nice part of town, unless nice=acres of surface parking. There are handicapped spaces on the same block, north of the IMAX theater. The handicapped parking in the parking deck across Blount Street is not that much further from the ramp entrance on Hargett than spaces in North Hills or Crabtree.
Click to view my profile ncwebguy
March 11, 2008 2:28 p.m.
Wish it was in a better area of town with better parking. Basically inaccessable to the disabled because of offsite parking.

God bless.

Rev. RB
Click to view my profile Spirit Warrior Woman - Rev. RB
March 11, 2008 2:00 p.m.
I haven't been in several years (maybe the museum is better now that it merged with PlaySpace) but I thought it stunk! I hope they will be working on new exhibit layouts with the cash they bring in!
Click to view my profile lpf88
March 11, 2008 1:25 p.m.
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