49th Academy Awards

The 49th Academy Awards were presented Monday, March 28, 1977, at the Dorothy Chandler Pavilion in Los Angeles, California, hosted by Richard Pryor, Ellen Burstyn, Jane Fonda, and Warren Beatty. Both Network and All the President's Men won four Oscars, the most of the evening, but lost Best Picture and Best Director, as well as Best Editing, to Rocky.

Network became the second film (after A Streetcar Named Desire) to win three acting Oscars, the last to do so until Everything Everywhere All at Once, and the last, as of the 97th Academy Awards, to receive five acting nominations. It was also the eleventh of fifteen films (to date) to receive nominations in all four acting categories. Best Actor winner Peter Finch became the first posthumous acting winner, having suffered a fatal heart attack in mid-January. With only five minutes and two seconds of screentime, Beatrice Straight set a record for the shortest performance ever to win an acting Oscar (Best Supporting Actress). Paddy Chayefsky won his third solo writing Oscar for Network, a record that remains to this day.