The Oscars will get a double dose of funny this March when not one but two all-star comic actors take the stage in Hollywood's biggest awards night.
"We think the team of Steve and Alec are the perfect pair of hosts for the Oscars," Oscar telecast producers Bill Mechanic and Adam Shankman announced today.
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"Steve will bring the experience of having hosted the show in the past and Alec will be a completely fresh personality for this event," they said.
Martin, a two-time host of the show, said he was "happy" to co-host the Oscars with Alec Baldwin who he called his "enemy".
Baldwin, for his part, said he doesn't "play the banjo" but is "thrilled to be hosting the Oscars -- it's the opportunity of a lifetime."
The rumored host for the 82nd annual Oscars ceremony was "X-Men" and theater star Hugh Jackman, who hosted last year's ceremony, but the Broadway actor declined the offer to re-host earlier this month.
Jackman was praised last year for his hosting gig, which included musical numbers with Anne Hathaway and the cast of "Mamma Mia."
Martin, the comic legend behind the "Father of the Bride" series, hosted the 73rd and 75th Academy Awards shows.
"30 Rock" star Alec Baldwin, who was nominated for an Academy Award in 2003 for Best Supporting Actor in "The Cooler," will make his Oscars debut as this year's host.