While the official word isn’t in yet, it’s looking like Brian Grazer will be the man to step in to take over producing the Oscars in the wake of Brett Ratner’s recent departure from the job.

Earlier today, we reported that Grazer, who produced Ratner’s film Tower Heist was in talks with Tom Sherak to produce the 84th Academy Awards. The Hollywood Reporter says sources are confirming that Grazer has accepted the duties and though a spokesperson for Grazer declined to comment, as did a spokesperson for the Academy, THR says the press release confirming the news is forthcoming.

Assuming this is official, the next big question is, who will host now that Eddie Murphy has dropped out? Cinema Blend’s own Eric Eisenberg offers five good reasons why The Muppets should be given the job. However, Deadline reports that the Academy wants Eddie Murphy back on board and that Grazer’s first task will be to make that happen. Given Grazer’s connection with Tower Heist, which has Murphy among the stars, it’s possible the connection will do some good there.

UPDATE: The Hollywood Reporter has posted an update stating that Academy president Tom Sherak has confirmed the news:

"Brian Grazer is a renowned filmmaker who over the past 25 years has produced a diverse and extranordinary body of work," Sherak said. "he will certainly bring his tremendous talent, creativity and relationships to the Oscars."