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365 Years of Oscar: Remembering the 1981 Best Picture Shocker

One of the biggest shocks in middle era Oscar history occurred when Loretta Young announced that British import Chariots of Fire had prevailed over Reds, the presumed Best Picture winner. (And indeed, Warren Beatty had just been named Best Director for Reds, his passion project.)

The other nominees were Atlantic City, On Golden Pond, and Raiders of the Lost Ark. (Personally, I’d give it to Raiders over Atlantic City.)

This article is part of a special year-long series of anecdotes, reflections and thoughts about the Academy Awards.