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The Academy Awards, popularly known as the Oscars, are presented annually by the American Academy of Motion Picture Arts and Sciences (AMPAS)[1] 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. It is also the oldest award ceremony in the media, and many other award ceremonies such as the Grammy Awards (for music), Golden Globe Awards (all forms of media), and Emmy Awards (for television) are often modeled from the Academy. The Academy of Motion Picture Arts and Sciences itself was conceived by Metro-Goldwyn-Mayer studio boss Louis B. Mayer.more...

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This year, ten movies were nominated for best picture, including Avatar, The Hurt Locker, and, in the biggest surprise of the morning, District 9 - a little sci-fi movie. By the time the Oscars ceremony takes place, Avatar will likely be the highest grossing movie of all time, both domestically and internationally.

It will be interesting to see how it does against The Hurt Locker, directed by James Cameron's ex-wife - an only-in-Hollywood situation! The Oscars this year may be a little subdued, as the general economic decline has made glitz and glamour a little less desireable. Ratings should be up, with Avatar a big draw this year. In the best actress category, Meryl Streep is nominated again for a record 16th nomination.

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