The Academy Awards, popularly known as the Oscars, are the most prominent and most watched film awards ceremony in the world. See wikipedia article for more information.
Academy Awards for outstanding film achievements of 2006 will be presented on Sunday, February 25, 2007, at the Kodak Theatre at Hollywood & Highland Center
From the Yahoo article:
The dream of the top Academy Award is gone for the musical “Dreamgirls.” It got eight Oscar nominations Tuesday, but not best picture \u2014 leaving the main prize up for grabs.
Will it be the sprawling global drama “Babel,” which placed second with seven nominations, or the mob epic “The Departed”? Could the palace tale “The Queen” be crowned best picture, or even “Little Miss Sunshine,” a road-trip romp that became last year’s independent-cinema darling?