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Friday, March 21 5:30 p.m. EST
and Monday, March 24
5:30 p.m. and 12:30 a.m. EST

CNN "Showbiz Today" anchors Jim Moret and Laurin Sydney are veterans when it comes to covering Hollywood's big event. We asked them to pick their favorite films of all time and to share their favorite Oscar moments.

One of my favorite films among the Oscar winners through the years is "Network." When it came out in 1976, it seemed like a somewhat farcical look at the television industry. (160K/7 sec. AIFF or WAV sound)

Nearly everything depicted in the film has come to pass from "Sybil the Soothsayer" to staging stunts solely for ratings. The film lost to "Rocky" for Best Picture, but it won three acting awards, including Best Actress for Faye Dunaway, Best Supporting Actress for Beatrice Straight, and a posthumous award to Peter Finch for Best Actor. The film was also honored as best original screenplay, and I think it richly deserved it.

The true litmus test for the greatness of any movie is its ability to stand up over time. In that sense, "Network" was less a farce and more a warning.

1977's "Annie Hall" is another film that stands out. I saw that one again recently and I laugh at the same scenes." (224K/9 sec. AIFF or WAV sound)

Those two pictures perhaps stand out more than any others in recent memory.

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My favorite moment was when Tom Hanks accepted the Best Actor award for "Philadelphia." He's a marvelous actor and a marvelous human being. When he got up and cried talking about his passion for the movie, his concern about AIDS, and his love for his wife, Rita Wilson, I sat there and believed every single syllable he said. Some actors give a performance when they accept their awards. But Tom Hanks' acceptance speech so obviously came from his heart.

Another favorite moment was what I call "pure Oscar:" the year of "Schindler's List." For the first time that I've covered them (and I've done it for 10 years), a movie won for the exact right reason. It won because it was the best motion picture of the year, perhaps of the decade. (352K/15 sec. AIFF or WAV sound) This was the year that everyone got up on their feet and everybody applauded and gave this picture a standing ovation for the right reasons. I was standing there along with them and I was proud.

• Laurin Sydney
• Jim Moret