Alec Baldwin: 'We were going to come out and say,'The Oscars. Warmer than the Olympics. Not as gay as the Tonys.'

For all those wondering why Oscar Co-Hosts Steve Martin and Alec Baldwin were given noticeably little screen time during the Oscar broadcast, Baldwin reveals to New York Magazine that they purposely cut out much of their bit because, essentially, "less is more."

Says Baldwin:"We had a script that was a much longer script for us. We were more involved. So he and I, I think we were very clever, or we were very wise, I should say, to cut it down. Less of us was better, so you could really get on with the films and honoring the people that are there to be honored...We cut ourselves out of it by half."

As for what we missed, he explains: "There were a lot of good jokes we had in there that they wanted to tone down...We had a lot of really kind of saltier lines that they wound up cutting..."We were going to come out and say,'The Oscars. Warmer than the Olympics. Not as gay as the Tonys.'"

Despite the short stint, both Badlwin and Martin received widespread praise for their performances during the broadcast and indeed did succeed in leaving audiences wanting more of them.

At the 82nd Annual Academy Awards Ceremony at the Kodak Theatre in Hollywood California, 'The Hurt Locker' won Best Picture and the film's director Kathryn Bigelow took home the award for Best Director. Jeff Bridges took home the Oscar for Best Actor for his work in 'Crazy Heart', Sandra Bullock won Best Actress for 'The Blind Side', Christoph Waltz took home Best Supporting Actor for 'Inglourious Basterds' and Mo'Niqe garnered the award for Best Supporting Actress for her role in 'Precious'.

The Academy Award ceremony was broadcast live by the ABC Television Network. The Oscar presentation was also televised live in more than 200 countries worldwide. Click here to see a complete list of winners.