Last years Oscars hosted by Seth MacFarlane, drew an average audience of 40.3 million total viewers and was TV's most-watched entertainment telecast in the last 3 years.
"Craig and Neil have the overwhelming support of the Academy's Governors to produce the Oscars again in 2014. In order to establish continuity with this year's enormously successful show, we felt it was important to give these consummate professionals the green light now to begin creating another great evening," Koch said.
Among the innovations that Zadan and Meron plan to bring back to the 2014 show is the Oscar Experience College Search, which allows young filmmakers to assist with bringing the Oscar statuettes on-and-off stage during the show.
The Academy Awards will air on March 2, 2014 at the Dolby Theatre in Hollywood.
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