Most members of the key demographic that advertisers crave have never known an Oscar telecast on any network other than ABC, a tradition that will continue through at least the year 2020.
 
ABC and the Academy of Motion Picture Arts and Sciences announced on Thursday (February 24) that they've reached a six-year extension of their current contract.
 
Everybody involved had lots to say, press release-wise.
 
"This contract ensures that the Oscar show will be an ABC tradition for 45 consecutive years," states Academy President Tom Sherak. "ABC is absolutely the very best place for the Academy Awards, a television event that is beloved and watched by millions of movie lovers all over the world."
 
Adds Disney/ABC Television Group President Anne Sweeney, "ABC has been home to the Oscars for many years, having aired a total of 46 of the annual telecasts, so we’re thrilled to announce that this tradition will continue. During that time, we’ve enjoyed a tremendous partnership with the Academy, pairing the best in movies with the best in television, and look forward to a long and successful collaboration in the years to come."
 
The current carriage deal between ABC and the AMPAS was scheduled to expire in 2014, but we can now breathe easy for at least a few more years, unless you happen to live outside of the United States. International rights are covered by a separate agreement with Walt Disney International and they also run through 2014.
 
Want one more press release quote? OK. You twisted our arm.
 
"The Oscars remain the most-watched non-sports program in America, and we’re delighted that ABC will continue to be the setting for that jewel," states Academy Executive Director Bruce Davis. "The network has consistently demonstrated an understanding of what makes us unique, and has energetically supported those qualities."
 
The 83rd Academy Awards, hosted by James Franco and Anne Hathaway, will air live on ABC on Sunday, February 27. 
 
Stay tuned to HitFix for full coverage.