Who Will Replace Eddie Murphy And Brett Ratner For 2012's Oscars?!

Pre-production for the 2012 Oscars broadcast went into a whirlwind Wednesday. J. Edgar and Tower Heist producer Brian Grazer signed on to take over the co-production of the telecast in the wake of the resignation of both Eddie Murphy -who had been set to host-, and Tower Heist director Brett Ratner, who quit as co-producer one day earlier.

The Academy of Motion Picture Arts and Sciences had hired Ratner and Murphy trying to attract a younger audience after recent years' declining ratings for the biggest award show in the world. Their abrupt departure has definitely shaken up what is typically a meticulously calculated production event, after a series of controversial public homophobic and sexual comments made by Mr. Ratner.

Mr. Ratner apologized for his "hurtful and stupid" remarks in a statement Tuesday, saying he would be taking "real action" in the coming months to "help stamp out the kind of thoughtless bigotry [he had] so foolishly perpetuated."

Now it seems that Brian Grazer, who is an Academy Award winner himself, will co-produce the show.

"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", said Grazer in a statement.

Academy President Tom Sherak, who was charged of selecting Mr. Ratner's successor, said in a statement that he expected Mr. Grazer to "bring his tremendous talent, creativity and relationships" to the broadcast.

The Academy released a statement from Mr. Murphy that read in part:

"I completely understand and support each party's decision with regard to a change of producers for this year's Academy Awards ceremony."

Eddie Murphy's departure is the first time in recent memory that a host has walked away from his responsibilities after signing on. As for replacing Murphy,  will The Academy now go with an old pro like the 8 times host Billy Crystal? Or will they once again look for fresh Oscar talent like they did with Murphy and last year's hosting duo, James Franco and Anne Hathaway?  But here's the hot buzz... America's favorite billionaire Oprah Winfrey is perhaps one of the strongest contenders to replace Murphy. But this is all speculation because no host has yet been announced!

Who do you think should replace Eddie Murphy to host the 84th Academy Awards?