11/09/2011 06:36 pm ET | Updated Jan 09, 2012

Brian Grazer: Oscar Producer After Brett Ratner Resignation

UPDATE: Grazer is officially on board as a producer for the Oscars, joining Don Mischner in putting on the telecast.

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

Added Grazer: “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. Don is a legend, and I am excited to work with him.”

PREVIOUSLY: Brian Grazer is swooping in to try and save the Academy Awards.

According to The Hollywood Reporter, the Oscar-winning producer has agreed to take over producing the awards telecast following the exit of Brett Ratner, who resigned Tuesday night after making a series of controversial statements over the past week. A statement from the Academy, THR reports, is on its way.

One of Grazer's first jobs will be to find a new host for the show; Ratner's choice to host, Eddie Murphy, stepped down earlier on Wednesday. Grazer did produce "Tower Heist," the new film in which Ratner directs Eddie Murphy, so there could be a chance he could convince Murphy to stay.

The show became mired in controversy after Ratner used a gay slur when asked a question about filmmaking at a screening of "Tower Heist," last week. The director said that "rehearsing is for fags" in a Q&A session at L.A.'s Arclight Cinemas, and the remark was caught on camera and posted online. He later apologized, but got into more trouble with a series of crude statements about actresses Olivia Munn and Lindsay Lohan.

Grazer is a titan in Hollywood; he's producing this fall's "J. Edgar," and has put together films such as "Frost/Nixon," "Cinderella Man," "A Beautiful Mind" and "The Da Vinci Code."

For more, click over to The Hollywood Reporter.

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