We let you in on the winners as they're announced during tonight's Oscar show. What do you think of the Academy's decisions? Tell us in the comments box below.
8:37 p.m. Big winners tonight: "The King's Speech" (four Oscars), "Inception" (four Oscars), "Social Network" (three Oscars).
8:36 p.m. Best Picture award goes to "The King's Speech."
8:25 p.m. Best Actor award goes to... Colin Firth ("The King’s Speech") presented by Sandra Bullock.
8:16 p.m. Best Actress award goes to... Natalie Portman ("Black Swan") presented by Jeff Bridges.
8:03 p.m. Tom Hooper wins Best Director for "The King's Speech."
7:51 p.m. Randy Newman's "We Belong Together" takes Best Original Song from "Toy Story 3."
7:34 p.m. "Inception" takes another Oscar — bringing the movie's total to four — this one for Visual Effects.
7:19 p.m. Oprah takes the stage to present Best Documentary Feature. ... and Banksy lucks out on having to make an appearance. From the LA Times Live Blog: "Maybe the "Inside Job" winners will spray paint a mural tonight after the ceremony."
7:02 p.m. President Obama's favorite song from a movie: "As Time Goes By."
6:57 p.m. So far, "King's Speech" falls behind with one Oscar, "Social Network", "Alice in Wonderland" and "Fighter" with two Oscars each, "Inception" leads with three Oscars.
6:35 p.m. "The Fighter" pulls ahead of "The King's Speech." Thoughts so far?
6:33 p.m. And the Oscar goes to... Christian Bale ("The Fighter")
6:29 p.m. Reese Witherspoon prepares to announce Best Supporting Actor.
6:25 p.m. Anne Hathaway performs... and now James Franco in a dress and blonde wig.
6:12 p.m. Did you know tonight is the 10th Anniversary of the Oscar for Best Animated Feature?
6:06 p.m. ..."Toy Story 3"
6:05 p.m. Best Animated Feature (please be "Toy Story 3")...
6:02 p.m. Justin Timberlake and Mila Kunis about to present award for Best Animated Feature and Short.
5:57 p.m. Melissa Leo ("The Fighter"). Kirk Douglas sure made her wait a while for it.
5:53 p.m. Best Actress in a Supporting Role goes to...
5:43 p.m. First to bring home awards for Best Picture, Cinematography and Art Direction was "Gone with the Wind" -- Tom Hanks as he prepares to present the first award.
5:33 p.m. The James Franco and Anne Hathaway version of "Inception." Confusing.
5:30 p.m. Here we go.
5:24 p.m. Halle Berry: "I just love to see everybody all dressed up," in an ABC interview.
5:16 p.m. If Gwyneth Paltrow could sing a duet with anyone in the world it would be Jay-Z. Take a minute to picture that.
5:09 p.m. ABC poll says 56 percent agree Colin Firth will take home the Best Actor award. What do you think?
4:57 p.m. With just about a half-hour remaining before the show, Best Actress favorite Natalie Portman arrives.
4:47 p.m. Less than one hour until showtime! Do you think because James Franco will be hosting tonight he has a higher chance of winning the Best Actor award?
4:28 p.m. The Oscar Statuette measures 13.5 inches high and is officially named the Academy Award of Merit, according to The Academy of Motion Picture Arts and Sciences.
4:07 p.m. Seacrest just announced there will be a Twighlight musical performance during tonight's show. Twighlight fans, tune in. Everyone else, get ready to change the channel.
3:37 p.m. Where are you getting your Oscar news tonight?
3:34 p.m. All the celebs are showing up at the Kodak Theater — dressed to the nines obviously. What do you think of what they're wearing so far?