But would things have been different if instead the general public was tasked with awarding the Best Picture Oscar?

“Eddie is a comedic genius, one of the greatest and most influential live performers ever,” said show co-producer Brett Ratner, who also directed Murphy in the upcoming comedy ‘Tower Heist,’ due for release November 4. “With his love of movies, history of crafting unforgettable characters and his iconic performances — especially on stage — I know he will bring excitement, spontaneity and tremendous heart to the show.”

The move is seen as an effort to return to basics — in other words, have one funny act head up the entire ceremony. In years past, the Academy has experimented with different hosting ideas, culminating in the somewhat questionable move this year that saw actors James Franco and Anne Hathaway emceeing what many called a disastrous show.

Unless you live in a cave, or under a rock (or just don't watch tv) you probably know the Academy Awards are this weekend. But why is the coveted little statue called the "Oscar?"