To celebrate the 50th anniversary of the classic film, the stars have agreed to present the best picture award at the ceremony, according to The Hollywood Reporter.
However, the Academy declined to comment on the same but according to several sources, Oscar telecast producers Michael De Luca and Jennifer Todd personally reached out to the duo to present the top award of the evening.
Beatty has recently made his first on-screen appearance in 15 years in the 2016 period-piece drama "Rules Don't Apply", which he also co-wrote, produced and directed.
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