The interior decor at your local Golden Arches leaves a lot to be desired, but that won't be the case for much longer.

The fast food giant plans to drop roughly $1 billion to re-decorate its restaurants, replacing red-and-yellow plastic with faux-leather and harsh overhead lighting with something that creates more ambiance.

This new approach is being done in an effort to modernize the 56-year-old company and give it more of a coffee shop-like feel. With that established, McDonald's hopes that customers will ultimately want to stay longer (and with its free Wi-Fi, why wouldn't they?).

Among the items on the remodeling list are redoing roofs, dividing dining areas and adding flat-screen TVs.

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