AND THE OSCAR GOES TO... ABC AND THE ACADEMY OF MOTION PICTURE ARTS & SCIENCES RENEW ACADEMY AWARDS THROUGH 2014

The ABC Television Network and the Academy of Motion Picture Arts & Sciences (AMPAS) today announced an extension of their Academy Awards (r) agreement that will keep the Oscar(r) telecast on ABC through 2014. This year's Academy Awards, hosted by Chris Rock, will air Sunday, February 27.

In making the announcement, Anne Sweeney, Co-chairman, Disney Media Networks and President, Disney-ABC Television Group, commented: "The Academy Awards stands as the preeminent awards show in the world. We're thrilled to continue our long, fruitful association with the Motion Picture Academy through two-thousand-and-fourteen and thrilled to continue bringing this exciting and glamorous event to our audience."

Academy President Frank Pierson echoed her enthusiasm, observing that "we've always had a remarkable relationship with ABC; they understand and indulge all our little quirks and preferences, and we're very pleased that we're now going to be working with them for at least another decade."

Academy Executive Director Bruce Davis described the AMPAS/ABC negotiations as "characteristically cordial." He continued: "All of us at the Academy were particularly gratified by the participation of Walt Disney president and Chief Operating Officer Bob Iger in these negotiations. The Academy is very protective of the Oscars, and one of the main factors that has kept us at ABC is our confidence that Bob understands and respects the things that make us the gold standard of Awards shows. He's been an important constant throughout all our dealings with the network since 1989."

The new agreement for the domestic broadcasts of the Academy Awards adds six years to the existing contract, which was scheduled to expire in 2008. International rights are governed by a separate agreement with Buena Vista International that runs through 2010.

The Academy Awards, which, by the end of this extension agreement, will have aired for 38 consecutive years on ABC, is traditionally the network's top-rated entertainment broadcast each year and the highest rated awards show on television each season.