Will Smith has reportedly been banned from The Oscars for 10 years over him slapping Chris Rock.Academy President David Rubin and CEO Dawn Hudson said in a joint statement, "during our telecast, we did not adequately address the situation in the room. For this, we are sorry. This was an opportunity for us to set an example for our guests, viewers, and our Academy family around the world, and we fell short- unprepared for the unprecedented.”The statement continued, “this action we are taking today in response to Will Smith’s behavior is a step toward a large goal of protecting the safety of our performers and guests and restoring trust in the Academy. We also hope this can begin a time of healing and restoration for all involved and impacted.”Will Smith did announce that he was resigning from Academy, and he also apologized for the slap heard around the world via Instagram. He said, "I would like to publicly apologize to you, Chris. I was out of line and I was wrong. I am embarrassed and my actions were not indicative of the man I want to be. There is no place for violence in a world of love and kindness. I would also like to apologize to the Academy, the producers of the show, all the attendees and everyone watching around the world. I would like to apologize to the Williams Family and my King Richard Family. I deeply regret that my behavior has stained what has been an otherwise gorgeous journey for all of us."