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Will Smith reportedly decided to take action because the Academy forewarned him that his punishment would likely include being kicked out of the organization for at least 10 years. In his resignation statement, Smith wrote that he was “heartbroken,” per Deadline. “My actions at the 94th Academy Awards presentation were shocking, painful, and inexcusable,” it read in part. “The list of those I have hurt is long and includes Chris, his family, many of my dear friends and loved ones, all those in attendance, and global audiences at home. I betrayed the trust of the Academy.”
During an April 18 meeting, the Academy will decide what other disciplinary actions it might take. However, Deadline reports that Smith’s Oscar will not be taken away, and according to The Hollywood Reporter, he probably won’t be barred from receiving future Academy Award nominations. However, one anonymous industry vet told THR that some studios might not want Smith’s name attached to their future projects. “Everyone would do the equation, ‘I’ve got Will Smith, but now I’ve got this baggage and they’re going to reshow the slap. Do I need that, and is so-and-so available?'” they said.
According to Variety, SAG-AFTRA is also considering punishing Smith in some way, but Rock reportedly isn’t interested in retribution. He decided not to file charges against Smith, per Variety, and a friend of the comedian told Page Six that he has no interest in suing the actor.
Source: Nicki Swift