After 20 years of coverage, Sky will no longer broadcast the Oscars in the UK.
Digital Spy has confirmed Deadline's report indicating that Sky will forego the rights to the awards show.
Following the broadcaster acquiring the rights from the BBC in 2004, Sky has showcased the ceremony across its dedicated Sky Cinema Oscars channel, with coverage also being shown on Sky Showcase and streaming service NOW TV as well as free-to-air channels Sky Arts and Sky News.
A new broadcaster is yet to be confirmed for UK viewers, but it is believed that rights holder Disney are working to secure another partnership.
Both Sky and the Oscars are yet to comment officially on the news.
According to Deadline, around 35,000 viewers tuned in to watch the ceremony live on its flagship Sky Cinema Oscars channel in 2023, down from around 60,000 viewers in 2022.
This year's ceremony saw Everything Everywhere All At Once make history by winning seven awards out of 11 nominations, with Best Actor and Actress wins for Ke Huy Quan and Michelle Yeoh.
The news follows the announcement that changes would be made to how the 'Best Picture' category would be awarded.
Films are now required to play for an extra seven days in 10 of the top 50 US markets in order to be considered, with the new rules aiming to get more moviegoers into cinemas.
"It is our hope that this expanded theatrical footprint will increase the visibility of films worldwide and encourage audiences to experience our art form in a theatrical setting," Academy CEO Bill Kramer and Academy President Janet Yang said of the news.