The Paley Center for Media celebrated 50 years by announcing newly renovated spaces and theaters.

The ribbon-cutting held Wednesday was part of the second phase of its renovations, including studios for podcasting, recording and television production.

Leaders of the center say the updates will help train the next generation of media professionals through expanded educational programs and internships.

Optimum's chairman and CEO, Dennis Mathew, who also serves on the Paley Board of Trustees, was part of the celebration.

"We look to the future," said Frank A. Bennack Jr., chairman of the Paley Center. "We will continue to evolve and innovate and to shape the conversation and inspiring generations to come to take their interest in media and recognize what it means to our society."

The Paley Center says this next phase will carry its mission forward for decades to come.