When were the Oscars founded?

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Also in 1927 The Motion Picture Academy of Arts and Sciences was formed and began an annual awards ceremony. The prize, a figurine of a man grasping a star, was later dubbed Oscar. These awards did much to confer status upon the medium in that they asserted a definable quality of excellence analogous to literature and theater, other media in which awards are given for excellence. The Academy Awards also offered the bonus of gathering many stars in one place and thus attracted immediate and widespread attention. The star system blossomed: actors were recruited from the stage as well as trained in the Hollywood studios.

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