Billy Crystal turns down hosting this year's Oscars.

Eight-time Oscar® host Billy Crystal has declined an offer to return as the Academy Awards' master of ceremonies due to his busy work schedule, which includes bringing his popular one-man Broadway show, 700 Sundays, to Los Angeles next month. Last year's host, Chris Rock, has also turned down the gig. The 78th Annual Academy Awards are scheduled to take place March 5. . . . . .Source