A press release from the Academy has confirmed that Hollywood legend, Billy Crystal, will take Murphy's spot as the host for the 84th Academy Awards.

Speculations on who will replace Eddie Murphy as the host of the 2012 Oscars were all over the news yesterday, but the actual choice has already been made. Billy Crystal, who's famous for his roles in "Father's Day," and "Analyze That," is no stranger to hosting the academy awards. This will be the ninth time Crystal will take over the red carpet affair. The last time the actor took the responsibility was in 2004, and heads of the Academy are more than excited to have the comedian back on the job.

"I'm thrilled to welcome Billy back to the Oscar® stage. He's a comic legend and Oscar icon, and it feels good to have him back where he belongs" said Tom Sherak, the president of the Academy of Motion Picture Arts and Sciences.

"Like so many others, I've been eager to see Billy host again. It's very gratifying that he agreed to do it with Don and me at the helm" commented Academy producer, Brian Grazer, in the release. Co-producer Don Mischer shares the same sentiment saying that the decision to pick Crystal is a "forward" move from the Academy.

"With Billy, we're moving forward with one of the greatest hosts in Oscar history. His return to the Oscars® is, in a sense, a celebration." added Mischer in the official press release.

Crystal himself is thrilled to be back as the host of the country's most prestigious entertainment awards night, who even poured a taste of his signature humor to the official release.

"Some of the best moments of my career have happened on the Oscar stage. I am thrilled to be back there. Actually, I am doing this so that the young woman in my pharmacy will stop asking me my name when I pick up my prescriptions," said the actor.

Source: MEDIA CONTACTToni Thompsontthompson@oscars.org

RELATED STORIES