The Academy Award (informally known as the Oscar) is an accolade by the American Academy of Motion Picture Arts and Sciences (AMPAS) to recognize excellence of professionals in the film industry, including directors, actors, and writers. The formal ceremony at which the awards are presented is one of the most prominent award ceremonies in the world and is televised live in more than 200 countries annually. It is also the oldest award ceremony in the media; its equivalents, the Grammy Awards (for music), Emmy Awards (for television), and Tony Awards (for theatre) are modeled after the Academy. The Academy of Motion Picture Arts and Sciences itself was conceived by Metro-Goldwyn-Mayer studio boss Louis B. Mayer.

The first Academy Awards ceremony was held on May 16, 1929, at the Hotel Roosevelt in Hollywood to honor outstanding film achievements of the 1927/1928 film season. It was hosted by actor Douglas Fairbanks and director William C. deMille. Opting for a younger face for the 83rd Academy Awards scheduled for February 27, 2011, younger actors Anne Hathaway and James Franco were named as hosts in November 2010 by producers Bruce Cohen and Don Mischer.
The 83rd Academy Awards will be broadcast 27 February 2011 from the Kodak Theatre in Hollywood, Ca on ABC at 8/5p.

http://en.wikipedia.org/wiki/Academy_award
http://www.oscars.org/
http://oscar.go.com/