When three of the film studios refused to provide their customary financial support, the RCA Victor Division of the Radio Corporation of America agreed to pay AMPAS $100,000 (one source reported $250,000[8]) as a sponsorship fee.
NBC telecast the bicoastal ceremony over its 64-station television network and on its 174-station radio system.
The late start was made to accommodate those nominees who were performing that night on the Broadway stage.
The year saw a major upset when the heavily favored High Noon lost Best Picture to Cecil B. DeMille's The Greatest Show on Earth, eventually considered among the worst films to have won the award.
[13][14] Today, it ranks #94 on Rotten Tomatoes' list of the 95 films to win Best Picture, ahead of only The Broadway Melody.