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February 24, 2011 at 09:30 PM EST

ABC will keep the Oscar gold for years to come. The network announced today that it has extended its deal with the Academy of Motion Picture Arts and Sciences to air the Academy Awards through 2020.

“This contract ensures that the Oscar show will be an ABC tradition for 45 consecutive years,” said Academy President Tom Sherak in a statement. “ABC is absolutely the very best place for the Academy Awards, a television event that is beloved and watched by millions of movie lovers all over the world.”

The network has already aired 46 Oscar telecasts. The 83rd Academy Awards, which will air live on Sunday, will be the 36th consecutive ceremony to air on ABC.

ABC’s current deal with the movie academy was set to expire in 2012.

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