Los Angeles: The Academy of Motion Picture Arts and Sciences said its Board Of Governors will discuss "any actions warranted" against movie mogul Harvey Weinstein.
The Academy issued a statement addressing the multiple allegations of sexual misconduct against Weinstein, news of which broke in an New York Times expose and was compounded by a New Yorker investigation, reported Deadline.
"The Academy finds the conduct described in the allegations against Harvey Weinstein to be repugnant, abhorrent, and antithetical to the high standards of the Academy and the creative community it represents.
"The Board of Governors will be holding a special meeting on October 14, to discuss the allegations against Weinstein and any actions warranted by the Academy," the statement read.
The British Academy of Film and Television Arts also suspended Weinstein's membership, saying the organization "considers the reported alleged behavior completely unacceptable and incompatible with BAFTA's values."
Only one member has ever been expelled from the 8,427- member Oscars group: Carmine Caridi, an actor with small roles in "The Godfather" series who was ousted in 2004 after violating an agreement to not share awards screeners.
Weinstein has distributed five Best Picture winners through Miramax or the Weinstein Co.: "The English Patient" (1996), 1998's "Shakespeare in Love", 2002's "Chicago", 2010's "The King's Speech", and 2011's "The Artist".
The New York Times last week published a story citing multiple sexual harassment accusations. It was followed by an explosive report by the New Yorker in which three women accuse the media mogul of rape.
Weinstein was forced out of his own company, the Weinstein Company, after the first New York Times report was published. Since then, many important industry figures have released statements in opposition to Weinstein and the accounts detailed in the reports.
Slew of celebrities including Meryl Streep, Judi Dench, George Clooney have spoken out against Weinstein in recent days, with Streep calling his alleged behavior "inexcusable, but the abuse of power familiar."
Angelina Jolie and Gwyneth Paltrow are among those who have come forward with their own allegations of misconduct by Weinstein.