Los Angeles: Oscar-winning director Brian Grazer has replaced Brett Ratner to produce the 84th Academy award telecast along with noted television producer Don Mischer.

Grazer, 60, is the producer of movies like 'A Beautiful Mind', which won him the Best Picture Oscar, 'Apollo 13' and 'Frost/Nixon'. His current projects include 'J Edgar' and 'Tower Heist', directed by now sacked Ratner.

It is for the first time that Grazer is producing the Oscar telecast.

"Brian Grazer is a renowned filmmaker who over the past 25 years has produced a diverse and extraordinary body of work," Academy President Tom Sherak said, announcing Grazer's

"He will certainly bring his tremendous talent, creativity and relationships to the Oscars," Sherak added.

 Grazer, whose appointment came at the last minute, has to put together the awards spectacle in just 15 weeks.

"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,"
Grazer said.

Mischer, who has produced the Emmy Awards, The Grand Opening of Euro Disney, the opening ceremonies of the 2002 Winter Olympics and the opening and closing ceremonies of the 1996 Summer Olympics, said they are looking forward to produce an outstanding show in February.

"I am thrilled to welcome Brian Grazer as my partner and that we will be collaborating to produce an outstanding show," said Mischer.

Academy Awards for outstanding film achievements of 2011 will be presented on Sunday, February 26, 2012, at the Kodak Theatre.

Eddie Murphy quits as Oscar host

Meanwhile, actor Eddie Murphy has withdrawn as the host of the 84th Academy awards following the exit of Oscar show producer Brett Ratner over an anti gay slur.

"I appreciate how Eddie feels about losing his creative partner, Brett Ratner, and we all wish him well," said Academy President Tom Sherak in a statement.

Murphy, who decided to step down as a host to support his 'Tower Heist' director Ratner, said it was not an easy decision as he was looking forward to be a part of the show in February.

"First and foremost I want to say that I completely understand and support each party's decision with regard to a change of producers for this year's Academy Awards ceremony," the 50-year-old actor said.

"I was truly looking forward to being a part of the show that our production team and writers were just starting to develop, but I'm sure that the new production team and host will do an equally great job."

Academy Awards for outstanding film achievements of 2011 will be presented on Sunday, February 26, 2012, at the Kodak Theatre.