Jack Valenti is expected to reverse an edict barring studios from sending videos of their films to Academy Award voters. The ban, instituted three weeks ago as an anti-piracy measure, touched off a revolt in Hollywood.

The studios have yet to decide [on a watermarking technology]. Under the current discussions, only encoded videotapes would be distributed for screening purposes.

Any deal is days away and could still fall apart ... a stopgap and would most likely be changed next year.