It's unlikely Pete Davidson will host the Oscars due to his NBC connection, but there's "momentum" for Selena Gomez, Steve Martin and Martin Short

Variety

Variety reports informal conversations did take place with Davidson's team. Variety's Elizabeth Wagmeister and Clayton Davis add that it's "highly unlikely" he'll host because he is "is too closely associated with NBC and not part of the talent stable within ABC, which broadcasts the Oscars. In other words, having Davidson host would be free promotion for a competing network." But another millennial star could end up hosting. They report that Gomez and her Only Murders in the Building co-stars Martin and Short have some "momentum" that would create a perfect moment of Disney synergy. "Individuals involved with the Oscars telecast are intrigued by the idea of bringing together comedic legends (Martin has hosted the Oscars twice before) and one of the most popular young, multi-talented performers in Hollywood." “I mean, they are an iconic trio,” Hulu Originals and ABC Entertainment president Craig Erwich told Variety this week of Gomez, Martin and Short, touting the Hulu comedy. “They have mass appeal. Everybody loves them. They’d be a dream. That said, there’s a lot of incredible talent we’re considering. We’re having ongoing conversations with Will and the Academy about it.” Oscars producer Will Packer, the Academy and ABC executives will ultimately make the final hosting decision.