UPDATE: The news is now official.
EARLIER: The Academy Awards carousel/rumor mill continues: Brian Grazer is apparently set to replace the recently resigned Brett Ratner as producer of the telecast.
Grazer, producer of Oscar winners like A Beautiful Mind and Apollo 13, is reportedly telling friends that he has accepted the Academy's offer to fill the sudden, urgent void left by Ratner, who gave up his coveted behind-the-scenes role on Tuesday amid much controversy.
The news comes just hours after Eddie Murphy announced that he would not be hosting the ceremony. Replacing Murphy obviously becomes Grazer and Co.'s chief task, but Deadline is reporting that Grazer is hoping to convince Murphy to return. Stay tuned!