Studios fear that perfect-quality DVD copies of their recently released movies get leaked to Net from people who receive screener copies during the "Oscar season" and therefor decided that they wont be sending any screener copies this year. This obviously doesn't have any meaning whatsoever to studios that aren't affiliated with major movie studios, but causes problems for indie divisions of major movie studios -- chances of voters even seeing niche movies before they need to cast their votes, are rather slim if indie movie producers can't send those movies directly to voters.
Anyway, after Mr. Valenti agreed to negotiate with heads of indie divisions, MPAA released a statement that the announced DVD screener ban stands.
"Jack Valenti has had conversations with individuals and several groups on the subject of the new screener policy," said MPAA public affairs VP Rich Taylor in a statement. "He welcomes the exchange of thoughts and ideas on the critical issue of combating piracy. That said, the screener policy remains as it was originally announced."
More information:
IndieWire (1)
IndieWire (2)
NYTimes (requires registration)