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The Oscars to honor 'The Wizard of Oz' at ceremony

Variety reported this morning that "The Wizard of Oz" is going to a get a segment at the 86th Annual Academy Awards. The producers of the award show announced today.

They said in a statement that they are delighted to celebrate the movie, but didn't specify any more details on how they are going to celebrate the classic musical.

"The Wizard of Oz," was directed in 1939 and this year it celebrates its 75th anniversary. The movie had won two Oscars and had been nominated for six.

The Academy Awards are airing on ABC on March 2nd.