Givenchy will use the sponsorship to promote its perfume brand Very Irresistable, which 'Lord of the Rings' actress Liv Tyler is the face of.
Starting today, January 25, with Sky News' coverage of the nominations, the sponsorship will run on Sky One during the awards on Sunday February 27 as well as Sky Movies, Sky Travel and the Biography Channel, which will feature Hollywood and Oscar-themed programming.
Very Irresistable will also be the sponsor of Sky's interactive service and . Both services go live from today.
The sponsorship credits, which have been created in-house by Sky Creative Services in association with Parfums Givenchy and Team UK Media, feature the face of the campaign Tyler.
Mark Wood, Sky Media's commercial director, said: "The Academy Awards are the most prestigious film event of the year and Sky will cover them in a way that no other broadcaster could. This sponsorship demonstrates how we can utilise the whole of Sky Networks to deliver enhanced results on behalf of our clients."
Kareen Lafon-Levacher, marketing director for Parfums Givenchy, said:
"Sky's coverage of the Academy Awards is the perfect opportunity for Parfums Givenchy to showcase the glamour of Very Irresistible Givenchy, its most successful female fragrance to date."
The news comes as Martin Scorsese's 'The Aviator' notched up 11 Oscar nominations today including Best Film, Best Actor for Leonardo DiCaprio and Best Director for Scorcese.
Clint Eastwood, who directed and starred in 'Million Dollar Baby', is up for two, while the film is up for a total of seven including Hilary Swank for Best Actress.
Both films are expected to clear up at the awards, after winning five Golden Globes last month, usually signalled as a precursor to an Oscar win.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .