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Jackman takes over for comedian Jon Stewart, who served as Oscar moderator for the past two years.

"Hugh Jackman is a consummate entertainer and an internationally renowned movie star," said Mark and Condon in a joint statement. "He also has style, elegance and a sense of occasion. Hugh is the ideal choice to host a celebration of the year¹s movies and to have fun doing it."

The "Australia" actor previously hosted the Tony Awards in 2005, a year after winning the 2004 Tony Award for Best Actor in a Musical for his performance in "The Boy from Oz."