Oscar isn't leaving his home at ABC for the foreseeable future.
The Academy of Motion Picture Arts and Sciences were already in the midst of a deal that placed The Oscars on the network until 2020. ABC has decided to extend that deal eight more years, so barring any future extensions the highest cinematic honor will continue to make it's home at the network until 2028 (via Variety).
"We're honored to continue our storied and successful partnership with ABC in broadcasting the most-watched live-entertainment event of the year. In 2028, we'll mark the Oscars 100th anniversary, and ABC is the perfect partner to help us celebrate the magic of movies with our fans," Academy president Cheryl Boone Isaacs said.
"After hosting the Academy Awards more than 50 times, ABC has become the home for Hollywood's most prestigious and glamorous night of television. With this new landmark agreement, ABC is proud to showcase the Oscars all the way to their centennial celebration in 2028," Ben Sherwood, co-chairman, Disney Media Networks and president, Disney/ABC Television Group, said.
Both sides had capable teams handling the negotiations, and the Academy's included Boone Isaacs (Academy President), Dawn Hudson (Academy CEO), Jim Gianopulos (Academy Treasurer), Chris Tayback (Attorney), Ken Ziffren (Attorney), John Sandbrook (Economic Advisor), and Scott Miller (Academy In-house Counsel).
Disney and ABC's side included Ben Sherwood (President of Disney/ABC Television), Channing Dungey (President of ABC Entertainment), Jana Wingrade (Head of Business Ops), Jennifer Mayo (Senior VP Business Affairs), Grant Michaelson (VP Business Affairs), Mark Mazie (Chief Counsel), and Stewart Harrison (Deputy Chief Counsel).
The 89th Academy Awards will be held on February 26th.