The Oscars film academy has confirmed it's launching a formal review of Will Smith's assault of Chris Rock. 

In a statement, the academy says it will "explore further action and consequences" in accordance with California law and its own standards of conduct. 

It's understood to be considering stripping Smith of his Best Actor award. 

LA entertainment reporter Kristyn Burtt told Mike Hosking Smith and Rock have had an ongoing feud, but the incident has still caught everyone by surprise. 

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