It's a celebration of Irish actors and filmmakers, so it feels personal for Best Actor nominee Cillian Murphy, who was born in Cork, Ireland.
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"It's great to be here with my people from home," Murphy told us. "We're just thrilled to be here. It's a good Irish crew, so we'll have a laugh."
Sunday marks Murphy's first Oscar nod for the title role in the summer blockbuster "Oppenheimer."
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"We're just so flattered that it's been celebrated in this way," Murphy said. "So many people went to see it. It should be a good weekend."
He said his wife and children are here with him for the awards ceremony.
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Three actors and filmmakers of Irish descent were honored with the Oscar Wilde Award. Among them is Pierce Brosnan.
"Oscar Wilde was a mighty fellow, a mighty man of words and poetry," Brosnan said. "What a celebration."
He reminisced on his own journey from Ireland to Hollywood.
"I'm very happy to be here," Brosnan said. "I dropped into America in 1982 and I got a job as 'Remington Steele.' I have lived here ever since."
Legendary director James Cameron was on hand to present Richie Baneham with his Oscar Wilde Award. Baneham has won two Oscars for Best Achievement in Visual Effects for "Avatar." He won the first in 2010 and won again last year for "Avatar: The Way of Water."
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"This is a really important one for me in the sense of being acknowledged by your peers. It's beautiful. It's a once-in-a-lifetime thing. I'm incredibly honored," Baneham said.
Actress and comedian Molly Shannon was also honored.
"My ancestors were farmers, and they lived in rural Ireland," Shannon said. "They worked so hard. I'm so grateful to have come this far in show business. It's a real celebration of our people."