Guess we’ll have to put away those hopes of Billy Crystal hosting the Oscars for another year. Over the holiday weekend, word leaked out that Eddie Murphy had become the leading candidate to host the Oscars, which are being co-produced by Brett Ratner (Rush Hour) and veteran special event producer Don Mischer. Today, Murphy has reportedly agreed to host.

Deadline broke word over the weekend that Ratner was in talks with Murphy and would be offering up the comedian’s name as his only choice for host to AMPAS President Tom Sherak. Mischer said that there were a number of names that were interested in hosting and that he was fielding their calls, but apparently Ratner’s talks with Murphy ran along the lines of, “If the Academy asks you to host, would you accept?”
 
Murphy and Ratner have previously worked together. Murphy will star alongside Ben Stiller in Tower Heist, which opens November 4th and was directed by Ratner.
 
Murphy is also a previous Oscar-nominee, getting a Best Supporting Actor nod in 2007 for his performance in Dreamgirls. Though the favorite to take home to the statue that night, he lost out to Alan Arkin of Little Miss Sunshine. No doubt we’ll hear plenty of jokes about that Oscar upset.
 
For those of you who were hoping that Crystal would be hosting, there is a bit of consolation. Word is that the veteran host who had recently expressed interest in hosting again will be incorporated into the show in a marquee way.
 
The 2012 Academy Awards will take place February 26th.
 
Now it’s time for you to sound off. What do you think of Murphy as host? Would you have rather seen Crystal or perhaps someone else take on the hosting gig?