This is happening, according to this real press release from Deadline:
Seth MacFarlane will host the 85th Academy Awards®, telecast producers Craig Zadan and Neil Meron announced today. This will be MacFarlane’s first appearance on Oscar’s stage. The 85th Academy Awards will be broadcast live on Oscar® Sunday, February 24, on the ABC Television Network.
“We are thrilled to have Seth MacFarlane host the Oscars. His performing skills blend perfectly with our ideas for making the show entertaining and fresh,” said Zadan and Meron. “He will be the consummate host, and we are so happy to be working with him.”
“It’s truly an overwhelming privilege to be asked to host the Oscars,” said MacFarlane. “My thoughts upon hearing the news were, one, I will do my utmost to live up to the high standards set forth by my predecessors; and two, I hope they don’t find out I hosted the Charlie Sheen Roast.”
On one hand, Seth is always making the smuggest expressions (see pic above) and the only thing his face should host is a fist, so I can’t imagine staring at that for 5 million hours straight. But on the other hand, I LOVE this, because this could be the train wreck mess that will unite all of us together. Remember when James Franco and Anne Hathaway’s beyond awful performances made us all barf next to each other as one? Nothing brings us together like an Oscar shit show.