As a result of the current global threat encompassing the world, many businesses and institutions have faced extensive monetary crisis.
In lieu of it all, it appears the Oscars board of governors has decided to extend the eligibility window for all films and change the cut-away period which has traditionally always been the 31st of December.
According to a report by the Hollywood Reporter, the 54 governors involved have decided to push the event back till April or May 2021 to accommodate all those directors and production houses who had to halt shoots and delay the release of their films.
It is currently unknown whether the ceremony taking place will be held with the traditional twist or through a virtual platform.
This is not the first time the event has been postponed, over the last few decades, a number of international incidences have affected the event. From the flooding of Los Angeles in 1938 to the assassination of Dr. Martin Luther King in 1981, as well as the attempted assassination of Ronald Reagan.