I watched it both on-line and TV a couple of times. The TV broadcast is time delayed seven seconds or whatever it is so if you want to be among the first to hear the results, you're better off with the on-line version.
If you insist on TV, E! used to carry more than the Good Morning America segment allowed for, don't know if they still do.
I don't know if I'll be able to watch it either way this year. I'm having my annual heating maintenance between 8 and 12 am on Tuesday. If the guy comes early, I will be in the basement watching him instead of the Oscar announcement. It's an appointment I had to make three months ahead of time so I'm not canceling it for any reason.