Brian Grazer is the New Brett Ratner For 2012 Oscars

[caption id="attachment_91755" align="alignleft" width="300" caption="Getty Images"]Brian Grazer[/caption]

Fear not ... the Oscars will go on!

The 2012 Academy Awards ceremony was without a producer for only about 24 hours as Brian Grazer has officially replaced the disgraced Brett Ratner, according to Deadline.

Grazer will be working with Don Mischer on the 84th Academy Awards, which will mark the first time the mega-producer has called the shots on an Oscar telecast. Grazer produced Ratner's "Tower Heist," which makes this something of a situation in which the boss is stepping in to clean up the mess made by his subordinate.

There were rumors that Grazer was planning on trying to lure Eddie Murphy back in as host, but those have proven to be false -- the hunt is now on for a new master of ceremonies (and we have a few suggestions as to who that should be).

Brian Grazer is most well-known for his collaborations with Ron Howard, which include recent Oscar darlings like "Frost/Nixon" and "A Beautiful Mind" as well as '80s comedies like "Night Shift" and "Splash." He also recently started working with Ridley Scott as producer of both "Robin Hood" and "American Gangster." Other notable producing credits include the just-released "J. Edgar," "Cowboys & Aliens," "Inside Man," "8 Mile" and TV's "24."

So, yeah, the man knows what he's doing.

You can read the official statement from Academy President Tom Sherak, who admittedly sounds relieved that the first steps have been taken toward sweeping Ratner under the rug, over at Deadline. Stay tuned for word on a new host!