ABC AND ACADEMY EXTEND OSCAR TELECAST AGREEMENT

The ABC Television Network's contract to carry the annual Academy Awards presentations has been extended for six more years, though 2020, Academy of Motion Picture Arts and Sciences President Tom Sherak and Anne Sweeney, President of the Disney/ABC Television Group, announced today.

"This contract ensures that the Oscar show will be an ABC tradition for 45 consecutive years," said Sherak. "ABC is absolutely the very best place for the Academy Awards, a television event that is beloved and watched by millions of movie lovers all over the world."

"ABC has been home to the Oscars for many years, having aired a total of 46 of the annual telecasts, so we're thrilled to announce that this tradition will continue," said Sweeney. "During that time, we've enjoyed a tremendous partnership with the Academy, pairing the best in movies with the best in television, and look forward to a long and successful collaboration in the years to come."

Academy Executive Director Bruce Davis added: "The Oscars remain the most-watched non-sports program in America, and we're delighted that ABC will continue to be the setting for that jewel. The network has consistently demonstrated an understanding of what makes us unique, and has energetically supported those qualities."

The new agreement for the domestic broadcasts of the Academy Awards adds six years to the existing contract, which was scheduled to expire in 2014. International rights are covered by a separate agreement with Walt Disney International that runs through 2014.

The 83rd Academy Awards, which will air live on Sunday, February 27, will be the 36th consecutive ceremony to air on ABC.

ABOUT THE ACADEMY

The Academy of Motion Picture Arts and Sciences is the world's preeminent movie-related organization, with a membership of more than 6,000 of the most accomplished men and women working in cinema. In addition to the annual Academy Awards � in which the members vote to select the nominees and winners � the Academy presents a diverse year-round slate of public programs, exhibitions and events; provides financial support to a wide range of other movie-related organizations and endeavors; acts as a neutral advocate in the advancement of motion picture technology; and, through its Margaret Herrick Library and Academy Film Archive, collects, preserves, restores and provides access to movies and items related to their history. Through these and other activities the Academy serves students, historians, the entertainment industry and people everywhere who love movies.

DISNEY/ABC TELEVISION GROUP

The Disney/ABC Television Group is composed of The Walt Disney Company's (NYSE: DIS) global entertainment and news television properties, owned television stations group, as well as radio and publishing businesses. This includes the ABC Television Network, ABC Owned Television Stations Group, ABC Studios, Disney Channels Worldwide, ABC Family and SOAPnet, as well as Disney/ABC Domestic Television and Disney Media Distribution. The Radio Disney network, Hyperion publishing, and the Company's equity interest in A&E Television Networks round out the Group's portfolio of media businesses.