With a post on the official Twitter page HipHopHallofFame reading

"Hip Hop Hall of Fame Awards TV Show Comes to World Famous Apollo Theater in November 2012!"

was announced the induction ceremony which is being televised internationally for the first in 20 years.

Cultural luminaries including Run-DMC, Grandmaster Flash, DJ Red Alert and DJ Kool Herc have already been enshrined, and the 2012 class of inductees will be announced at a special benefit in July.

Organizers are currently putting the finishing touches on the ceremony, which is expected to feature live performances and appearances from Hip-Hop and R&B artists, personalities from the film, fashion, TV and sports worlds, community leaders, industry executives and more.

"We are actively pushing forward in our pre-production and talent booking efforts to make the Hip-Hop Hall of Fame Awards TV Show and Week of Events the premiere annual Hip Hop History event for many years to come," show creator and executive producer James Thompson said in a press release.

The Hip-Hop Hall of Fame Awards TV show will air this December. Hip-Hop Global Media and Productions, the company co-producing the show, tells SoulCulture that while a deal has been reached with the TV One network the details of the agreement and the exact network(s) on which the ceremony will air have not yet been disclosed.

Proceeds from the ceremony will be applied to the completion of an official Hip-Hop Hall of Fame Museum & Entertainment Complex to open in New York City by the end of 2014. The museum will feature era-based exhibits, interactive galleries, a Civil Rights exhibit, a concert lounge and much more. The project is expected to create approximately 300 jobs, accommodate 650,000 visitors annually and pump an estimated $350 million into the economy of New York City.