As you might have heard, Brett Ratner is having a tough couple of weeks. First he told G4’s Attack of the Show that he “Banged” Olivia Munn a few times, then he recanted to Howard Stern. Next he made a stupid remark in an interview that included a gay slur. As part of his penance, Ratner has now stepped down as the producer of the Oscars.

Just about an hour ago, in a very surprising move, Eddie Murphy is also stepping down as the host of the Oscars. This leaves the Academy just three months to replace both the host and producer. Word is that Brian Grazer will step in to replace Ratner. Meanwhile, You can bet that Hugh Jackman, Steve Martin Billy Crystal’s phones have been lighting up.

Here’s the official release:

Beverly Hills, CA – Academy of Motion Picture Arts and Sciences President Tom Sherak announced that Eddie Murphy has withdrawn as host of the 84th Academy Awards. “I appreciate how Eddie feels about losing his creative partner, Brett Ratner, and we all wish him well,” said Sherak.

Commented Murphy, “First and foremost I want to say that I completely understand and support each party’s decision with regard to a change of producers for this year’s Academy Awards ceremony. I was truly looking forward to being a part of the show that our production team and writers were just starting to develop, but I’m sure that the new production team and host will do an equally great job.”

Academy Awards for outstanding film achievements of 2011 will be presented on Sunday, February 26, 2012, at the Kodak Theatre at Hollywood & Highland Center, and televised live by the ABC Television Network. The Oscar presentation also will be televised live in more than 200 countries worldwide.

Source: Deadline