Sky has pulled out of broadcasting the Oscars ceremony after 20 years, it is understood.
According to a report the network has backed away from keeping the rights to the event as viewing figures tumble.
A report by industry publication Deadline suggests that the rightsholder Disney is near to doing a deal with a new UK broadcaster.
UK audience figures for the Oscars have been falling, with a reported 35,000 watching this year’s event live on Sky Cinema compared to nearly 60,000 in 2022.
Broadcasters are facing a tough economic climate and many are looking at how to make savings.
Sky took over the rights from the BBC in 2004. Coverage usually ran between around 11pm and 5am.
Coverage of the ceremony is shown in the US on ABC and this year was hosted by chat show star and comedian Jimmy Kimmel.
The event created headlines for the wrong reasons in 2022 after Will Smith famously went up on stage and slapped Chris Rock.
This year’s ceremony saw Everything, Everywhere All At Once win the award for Best Picture.
More than 57million Americans tuned in to watch Titanic win 11 Oscars during the 70th Academy Awards in 1998, the highest number of viewers in history.
But in 2021 just over 10million watched and the lack of interest has been mirrored both in Britain and across the world.