LOS ANGELES - Entertainment media companies Netflix and Sony have put upcoming projects with Will Smith on hold after he slapped comedian Chris Rock at the Oscars, The Hollywood Reporter first reported.
According to the publication, Smith was set to star in an upcoming Netflix movie, "Fast and Loose," but sources told the outlet that the streaming giant set the project aside.
Netflix was reportedly wary of progressing with the movie, the outlet added. The film is due to start production in August this year.
Sony also halted work on "Bad Boys 4," in which Smith had a role, sources told The Hollywood Reporter.
Smith in a statement released Friday afternoon said he will "fully accept any and all consequences for my conduct. My actions at the 94th Academy Awards presentation were shocking, painful, and inexcusable."
Film academy president David Rubin said Smith’s resignation was accepted. "We will continue to move forward with our disciplinary proceedings against Mr. Smith for violations of the Academy’s Standards of Conduct, in advance of our next scheduled board meeting on April 18."
The resignation came two days after the academy’s leadership board met to initiate disciplinary proceedings against Smith for violations against the group’s standards of conduct. Those proceedings could have resulted in suspension or expulsion, and it was not immediately clear what additional punishment he could face.
On Sunday, Smith strode from his front-row Dolby Theatre seat on to the stage and smacked Rock, who had made a joke at the expense of Smith’s wife, Jada Pinkett Smith. Moments later, he went on to win the best actor award for his role in "King Richard."
Rock, who was about to present Oscar for best documentary, declined to file charges when asked by police. He has only briefly addressed the attack publicly, saying at one comedy concert in Boston this week that he was still "kind of processing what happened."
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The Associated Press contributed to this report.