The 86th Annual Academy Awards will honor the 75th anniversary of The Wizard of Oz, a best picture nominee in 1939, show producers Craig Zadan and Neil Meron announced today. In addition, ABC has released a new promo featuring Academy Awards host Ellen DeGeneres being played off by the orchestra.

Here's what Craig Zadan and Neil Meron had to say about their tribute to The Wizard of Oz in a brief statement.

"We are delighted to celebrate the birthday of one of the most beloved movies of all time at this year's Oscars."

The Wizard of Oz received six Oscar nominations, winning two for Original Score and Song.

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Oscars for outstanding film achievements of 2013 will be presented on Oscar Sunday, March 2, 2014, at the Dolby Theatre at Hollywood & Highland Center and televised live on the ABC Television Network. The telecast, produced by Craig Zadan and Neil Meron, also will be televised live in more than 225 countries and territories worldwide.