Martin Scorsese, who just took home his first Oscar for The Departed, will be continuing his banner year as a guest of honor at the Cannes Film Festival in May.

Festival organizers announced the news today saying that on May 24th, Scorsese will give a masterclass and will use the festival as a platform to announce the launch of his World Cinema Foundation devoted to the restoration and preservation of cinematic masterpieces. Other directors to have previously given masterclasses include Wong Kar Wai, Sydney Pollack and this year's jury president Stephen Frears.

During the festival's closing night ceremony, Scorsese will present the Camera d'Or prize for best first film. Scorsese was jury president in 1998 and won the Palme d'Or in 1976 for Taxi Driver.

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