EDDIE MURPHY DROPS OUT AS HOST TO THE OSCARS BECAUSE OF BRETT RATNER'S GAY SLUR!

Eddie Murphy has bailed out of hosting the Academy Awards a day after his producing pal Brett Ratner was shamed into leaving the show.

Murphy has withdrawn as the host, according to a statement released by the Academy of Motion Picture Arts & Sciences.

“I appreciate how Eddie feels about losing his creative partner, Brett Ratner, and we all wish him well,” Academy President Tom Sherak said in a statement.

Late Tuesday, Ratner exited his job as executive producer of the awards ceremony after a firestorm erupted when he used a gay slur during a public screening of his film “Tower Heist” (which co-stars Murphy). He later apologized, though eventually was ousted as producer of the Oscars.

“First and foremost, I want to say that I completely understand and support each party’s decision with regard to a change of producers for this year’s Academy Awards ceremony,” Murphy said in a statement. “I was truly looking forward to being part of the show that our production team and writers were just starting to develop, but I’m sure the new production team and host will do an equally great job.”

Ratner and Murphy were viewed as a chance to liven up the Academy Awards ceremony, which is annually the most watched entertainment special of the year.

For Murphy, “Tower Heist” and the hosting gig were considered huge steps in the reemergence of his Hollywood career.

Ratner is considered a Hollywood renegade, who is willing to talk about stuff others keep private.

Monday he slammed former girlfriend Olivia Munn in an appearance on Howard Stern’s Sirius XM radio show.

Tuesday, as the furor grew over his gay slur, Ratner met with Gay & Lesbian Alliance Against Defamation and agreed to create a series of public discussions on the use of anti-gay jokes and slurs in films and on TV.

The Academy Awards are set for Feb. 26, 2012.

I didn't know it was illegal to say fag! Smh!

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