ABC SIGNS EXPANSIVE NEW AGREEMENT TO BROADCAST THE OSCARS(R), HOLLYWOOD'S BIGGEST ENTERTAINMENT CEREMONY, THROUGH 2028

ABC and the Academy of Motion Picture Arts and Sciences announced today that they have expanded their agreement for eight more years, in which the Network will remain home to the Oscars(R), Hollywood's biggest entertainment ceremony of the year, through 2028. The new agreement for the domestic network of the Academy Awards(R) adds eight years to the existing contract, which was scheduled to expire in 2020.

"We're honored to continue our storied and successful partnership with ABC in broadcasting the most watched live entertainment event of the year," said Academy President Cheryl Boone Isaacs. "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. On behalf of the Academy, I thank Jim Gianopulos, our Academy Treasurer and chair of the Board's Finance Committee, and Disney|ABC's Ben Sherwood, for leading these efforts."

"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," said Ben Sherwood, co-chairman, Disney Media Networks and president, Disney|ABC Television Group. "Broadcast television brings together the biggest audiences with high-quality live events, and ABC has the brightest, boldest lineup in the business," Sherwood said. "We look forward to teaming with the Academy to bring Oscar Sunday to even greater creative heights, as we spotlight motion picture magic and honor the achievements of the most talented members of the film industry."

"The Academy's partnership with ABC has been one of the most enduring in Hollywood," said Academy CEO Dawn Hudson. "Both the Academy and ABC set high bars for excellence, and ABC has a proven passion to help us deliver a great show to our global audience. We couldn't think of a more trusted collaborator to further our mission of inspiring and connecting the world through film."

"We are elated the Oscars will continue to call ABC home," said Channing Dungey, president, ABC Entertainment. "The ceremony is an important part of network programming, and we're looking forward to continuing our partnership with the Academy and delivering a multi-faceted, and multi-platform, ceremony celebrating the world's biggest stars and honoring excellence in filmmaking."

The Academy's negotiating team was led by Boone Isaacs, Hudson, Gianopulos, attorneys Chris Tayback and Ken Ziffren, economic advisor John Sandbrook and Academy in-house counsel Scott Miller.

The Disney|ABC Television Group's negotiating team consisted of Sherwood; Dungey; Jana Wingrade, head of Business Operations; Jennifer Mayo, senior vice president, Business Affairs; Grant Michaelson, vice president, Business Affairs; Mark Mazie, chief counsel, Media Networks; and Stewart Harrison, deputy chief counsel.

The 89th Academy Awards will be held Oscar Sunday, February 26, 2017, at the Dolby Theatre(R) at Hollywood & Highland Center(R) in Hollywood, and will be televised live by the ABC Television Network. The Oscar presentation also will be televised live in more than 225 countries and territories worldwide.

About the Academy

The Academy of Motion Picture Arts and Sciences is a global community of more than 7,000 of the most accomplished artists, filmmakers and executives working in film. In addition to celebrating and recognizing excellence in filmmaking through the Oscars, the Academy supports a wide range of initiatives to promote the art and science of the movies, including public programming, educational outreach and the upcoming Academy Museum of Motion Pictures, which is under construction in Los Angeles.

About the Disney|ABC Television Group

Disney|ABC Television Group is comprised of The Walt Disney Company's global entertainment and news television properties, owned television stations group, and radio business. This includes ABC Studios, the ABC Owned Television Stations Group, and the ABC Television Network, which provides entertainment and news programming to viewers via more than 200 affiliated stations across the U.S. It also includes Disney Channels Worldwide, a portfolio of 116 kid-driven, family-inclusive entertainment channels, including Disney Channel, Disney XD, Disney Junior, Disney Cinemagic, Hungama, and Radio Disney brands, as well as cable network Freeform, which targets Millennials. Disney|ABC Home Entertainment and Television Distribution and Disney Media Distribution round out the portfolio. Disney|ABC Television Group also has equity interests in A+E Networks and Hulu.