The Academy of Motion Picture Arts and Sciences will present a 40th anniversary screening of "Grease" with director Randal Kleiser in attendance along with stars John Travolta, Olivia Newton-John, Didi Conn and Barry Pearl. Comedian and actor Margaret Cho will emcee. The event takes place on August 15 at the Samuel Goldwyn Theater in Beverly Hills. Tickets go on sale July 25th. Click here for more info.