ABC has extended its deal with the Academy of Motion Picture Arts and Sciences and will now broadcast the Oscars through 2028. The new pact adds eight years to the existing contract, which was scheduled to expire in 2020.

The deal solidifies AMPAS’ primary source of revenue at a time when it is building its costly Hollywood history museum in Los Angeles, the Academy Museum of Motion Pictures.

“We’re honored to continue our storied and successful partnership with ABC in broadcasting the most-watched live-entertainment event of the year. In 2028, we’ll mark the Oscars 100th anniversary, and ABC is the perfect partner to help us celebrate the magic of movies with our fans,” Academy president Cheryl Boone Isaacs said.

“After hosting the Academy Awards more than 50 times, ABC has become the home for Hollywood’s most prestigious and glamorous night of television. With this new landmark agreement, ABC is proud to showcase the Oscars all the way to their centennial celebration in 2028,” Ben Sherwood, co-chairman, Disney Media Networks and president, Disney/ABC Television Group, said.

The Academy’s negotiating team was led by Boone Isaacs, Academy CEO Dawn Hudson, Jim Gianopulos, the Academy’s treasurer and chair of the board’s finance committee, attorneys Chris Tayback and Ken Ziffren, economic advisor John Sandbrook and Academy in-house counsel Scott Miller.

The Disney/ABC Television Group’s negotiating team consisted of Sherwood, Channing Dungey, president, ABC Entertainment, Jana Wingrade, head of business operations, Jennifer Mayo, senior VP, business affairs, Grant Michaelson, VP, business affairs, Mark Mazie, chief counsel, Media Networks, and Stewart Harrison, deputy chief counsel.

The 89th Academy Awards will be held Feb. 26 at the Dolby Theatre at Hollywood & Highland Center in Hollywood, and will be televised live by ABC. The Oscars also will be televised live in more than 225 countries and territories worldwide.