"We deeply regret the mistakes that were made during the presentation of the Best Picture category during last night’s Oscar ceremony. We apologize to the entire cast and crew of ' La La Land' and 'Moonlight' whose experience was profoundly altered by this error. We salute the tremendous grace they displayed under the circumstances," the Academy said in a statement.
The PwC (Price Waterhouse Coopers) accounting firm, charged by the Academy to handle the voting process, said that company's partner Brian Cullinan handed wrong envelope to the presenters.
"For the last 83 years, the Academy has entrusted PwC to handle the critical tabulation process, including the accurate delivery of results. PwC has taken full responsibility for the breaches of established protocols that took place during the ceremony," the Academy added.
The Academy stressed it would continue investigation into the issue.
The Oscars mistake triggered a wave of speculation, punchlines and memes.
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