Brian Grazer Replaces Brett Ratner as Oscar Producer, Eddie Murphy Quits as Host

It has been officially announced that 'J. Edgar' producer will co-produce the 2012 Academy Awards with Don Mischer, and look for a replacement after Murphy bails out his hosting duty.

AceShowbiz - The 84th Academy Awards has found its new producer following Brett Ratner's resignation on Tuesday, November 8. Tom Sherak, the Academy of Motion Picture Arts and Sciences president, officially announced on Wednesday that veteran producer Brian Grazer has been tapped to replace Ratner.

"Brian Grazer is a renowned filmmaker who over the past 25 years has produced a diverse and extraordinary body of work," Sherak said in a statement. "He will certainly bring his tremendous talent, creativity and relationships to the Oscars."

This will be Grazer's first producing duty for the Oscar telecast. He will co-produce the prestigious prize-giving event along with Don Mischer. Sharing his excitement to work with Grazer, Mischer said, "I am thrilled to welcome Brian Grazer as my partner and that we will be collaborating to produce an outstanding show."

Grazer chimed in, "It's very gratifying to be part of a show that honors excellence in the medium to which I have devoted so much of my career." He then sang praises to his new partner, saying, "Don is a legend, and I am excited to work with him."

Dawn Hudson, Academy CEO, added, "I too am delighted that Brian will join Don in producing the Academy Awards and I am looking forward to our producers delivering the movie event of the year."

Grazer is a four-time Academy Award nominee. The 60-year-old producer won an Oscar for Best Picture in 2001 for his works in "A Beautiful Mind", which stars %cRussell Crowe% and %cJennifer Connelly%. His latest projects include "Tower Heist", in which Ratner is directing, and yet to be released "J. Edgar".

Having just signed in to the Oscars, Grazer has already been faced with a challenge to find a replacement for %cEddie Murphy%. The comedian had decided to bail out from his hosting duty for the show earlier on Wednesday, November 9, saying in a statement. "First and foremost, I want to say that I completely understand and support each party's decision with regard to a change of producers for this year's Academy Awards ceremony."

"I was truly looking forward to being part of the show that our production team and writers were just starting to develop, but I'm sure the new production team and host will do an equally great job," so the 50-year-old actor added.

Murphy was previously chosen by Ratner to serve as the host for the 2012 Academy Awards. Ratner quit from his producing duty a few days after making a controversial gay slur during a Q&A session at the premiere of "Tower Heist" on Friday, November 4.

Academy Awards for outstanding film achievements of 2011 will be presented on Sunday, February 26, 2012, at the Kodak Theatre at Hollywood & Highland Center, and televised live by the ABC Television Network. The ceremony be live televised in more than 200 countries worldwide.

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