ABC and the Academy of Motion Picture Arts and Sciences has announced the extension of their agreement for eight more years, making the network remain home to the Oscars, Hollywood's biggest entertainment ceremony of the year, through 2028.
The new deal for the domestic network of the Academy Awards adds eight years to the existing contract, which was set to expire in 2020.
President of the Academy, Cheryl Boone Issacs said they were honored to continue with their storied and successful partnership with ABC in airing the most watched live entertainment event of the year. He added that in 2028, they will be marking the Oscars 100 anniversary, and ABC is the perfect partner to help them celebrate the magic of movies with their fans. On behalf of the Academy, Issacs thanked Oscars' Academy Treasurer, Jim Gianopulos and Disney/ABC's Ben Sherwood, their chair of the Board's Finance Committee for leading these effort, Awards Daily reported.
Ben Sherwood, co-chairman of Disney Media Networks and President of the Disney/ABC Television Group said that after hosting the Academy Awards more than 50 times, ABC has ended up been the glamorous night of television and the home for Hollywood's most prestigious. He added that broadcast TV brings together a pool of audiences with high-quality live events, and ABC has the brightest, boldest lineup in the business.
The Academy CEO, Dawn Hudson said that the Academy's partnership with ABC has been one of the most enduring in Hollywood. He added that both ABC and the Academy set high bars for excellence, and ABC has a proven passion to help us deliver a great show to our global audience.
Channing Dungey, president, ABC Entertainment said, "We are elated the Oscars will continue to call ABC home." He notes that the ceremony is a crucial part of network programming as they aimed at delivering a multi-faceted, and multi-platform, ceremony recognizing the world's biggest stars and honoring excellence in filmmaking.
According to Variety, the Academy's discussion team was led by Hudson, Gianopulos, Boone Isaacs, attorneys Chris Tayback and Ken Ziffren, Academy in-house counsel Scott Miller and economic advisor John Sandbrook.
The 89th Academy Awards will be held on February 26, 2017 in Hollywood and will be televised by ABC.
Watch a video of the 88th Annual Academy Awards here: