In his first time producing the show, Brian Grazer will replace Brett Ratner and team up with Don Mischer on the 84th Academy Awards telecast on Feb 26, 2012.

The news follows Wednesday’s (9) earlier bombshell that Eddie Murphy was stepping down as show host after Ratner resigned from his role as telecast producer on Tuesday in the wake of the gay slur debacle.

“Brian Grazer is a renowned filmmaker who over the past 25 years has produced a diverse and extraordinary body of work,” Academy president Tom Sherak said. “He will certainly bring his tremendous talent, creativity and relationships to the Oscars.”

Earlier on Wednesday Murphy issued the following statement: “First and foremost I want to say that I completely understand and support each party’s decision with regard to a change of producers for this year’s Academy Awards ceremony. I was truly looking forward to being a part of the show that our production team and writers were just starting to develop, but I’m sure that the new production team and host will do an equally great job.”

Ratner issued a public apology after his comments at a Tower Heist Q&A last week and has agreed to take part in a series of public discussions organised by GLAAD about the image of LBGT in Hollywood.

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