Save the Oscars With Live Voting and Hindsight: Virginia Postrel

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Feb. 24 (Bloomberg) -- Sunday night’s Academy Awardsceremony faces the real possibility of ratings humiliation. TheOscar telecast will almost certainly draw a smaller TV audiencethan the Feb. 12 Grammy Awards.

True, Whitney Houston’s death the day before boosted Grammyviewership to more than 39 million. But that’s only part of theequation. The Oscar ceremony is gradually losing viewers.