Megan Fox may have been replaced by the leggy Rosie Huntington in the third Transformers franchise but you know what they say about windows, when one closes, another opens and where else do you garner enormous amounts of attention in the film industry other than the most coveted Academy Awards?

Unfortunately, the alluring Megan Fox has not been been nominated for any awards but she has an equally large task on hand: tracking down an elusive funnyman for the upcoming Oscar show. Together with Funny or Die (an online web production company), the Academy Awards sends Megan Fox and her Transformers co-star Josh Duhamel to track down 8 time Oscar host, Billy Crystal.

There are also celebrity cameos by Robin Williams, Josh Duhamel, Megan Fox, William Fichtner and Vinnie Jones. We’re still trying to spot Robin though so tell us if you see him.

Watch the video here:

The Academy Awards attempted to draw viewers from the younger generations by employing Anne Hathaway and James Franco as hosts for the 2010 show, but their hosting capabilities clearly did not impress critics, or the rest of the world. The Academy’s decision to bring back Crystal to the stage was celebrated with cheers from all over the world, looks like old, really is gold.

“Our team had a great time working with the Academy and joining forces with Billy again,” said Mike Farah, Funny Or Die’s president of production. “We think the trailer really speaks to the excitement around this year’s Oscars®, and Funny Or Die was honored to be a part of it.”

The trailer will have a one-month run in more than 2,000 theaters beginning January 6 and can be viewed online here.

“We wanted to try something a little bit different this year instead of a traditional, clip-based piece,” said Academy Chief Marketing Officer Christina Kounelias. “The trailer has a fun twist that conveys how excited everyone is to have Billy back.”

Academy Awards for outstanding film achievements of 2011 will be presented on Sunday, February 26, at the Kodak Theatre at Hollywood & Highland Center®, and televised live by the ABC Television Network. The Oscar presentation also will be televised live in more than 225 countries worldwide.

Keep up with the Oscars by following their social networking pages on Facebook, Twitter and also YouTube where they will have live telecasts and highlight of the event. Do follow us here on Lipstiq as we’ll be keeping you updated throughout the most awaited award show of the here as well!