Two decades ago, Sky acquired the broadcasting rights from the BBC for the Oscars, most recently airing the ceremony on four channels: Sky Cinema Oscars channel, Sky Showcase, Sky Arts and Sky News.
However, confirmed by Deadline, the company lost the rights to the world’s biggest awards ceremony in the UK.
The outlet also claimed that Disney is close to striking the deal as the new UK buyer.
Previous to Sky’s sole broadcasting of the Oscars in 2004, the BBC and Sky used to take turns hosting the ceremony.
Though a specific reason for Sky’s loss of the show has not been given, outlets have alluded to the current economic climate.
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Audience figures have declined in recent years, with around 35,000 tuning in live on the main Sky Cinema channel in 2023, just over half the viewership of 2022.
Express.co.uk have approached Sky for comment.
The US coverage of the Oscars is shown on ABC, with last year’s being hosted by Jimmy Kimmel.
At the 95th ceremony, Everything, Everywhere All At Once took home the Best Picture along with multiple others.
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Other big wins included Brendan Fraser in The Walk and Edward Berger’s role in All Quiet on the Western Front.
The previous year’s Oscars was dominated by Will Smith’s famous slap to Chris Rock onstage after he made a joke about his wife’s haircut.
Will’s wife, Jada Pinkett Smith opened up about her battle with alopecia in 2018, leaving the Bad Boys actor to retaliate to defend his wife from the comedian.
Will later posted a YouTube video in which he addressed the incident and admitted he was “deeply remorseful” for his actions.
He was also later banned from attending the Oscars or any other Academy event for ten years following the ‘slap’.
Other UK broadcasters that trade with US companies include Channel 5, which operates 5USA channel, and Channel 4.
The latter buys American shows for the main channel as well as E4.
ITVx has also recently made some strong new acquisitions, such as The Sex Lives of College Girls.
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