82nd Academy Awards And The Oscars

The AMPAS was originally conceived by Metro-Goldwyn-Mayer studio boss Louis B. Mayer as a professional honorary organization to help improve the film industry’s image and help mediate labor disputes. The Oscar itself was later initiated by the Academy as an award "of merit for distinctive achievement" in the industry.
The first Academy Awards ceremony was held on May 16, 1929, at the Hotel Roosevelt in Hollywood to honor outstanding film achievements of the 1927/1928 film season. The 84th Academy Awards, honoring films in 2011, was held at the Hollywood and Highland Center on February 26, 2012.