From The Grindstone:
First of all, we know these ladies make a great team and it is because of their chemistry. We know what happens when co-hosts aren’t in sync with eachother. The whole world had to suffer through the James Franco/Anne Hathaway Oscars hosting fiasco that was 2010. It seems to help when the hosts, oh I don’t know, actually like eachother (you could just feel James’s disdain for Anne literally coming through the screen.) Not only are Tina and Amy actually very good friends but we know they work well as a team from their many years as improv partners, co-hosts of Weekend Update on Saturday Night Live and of course, as Sarah Palin and Hillary Clinton during Election 2008.
"Having both Tina Fey and Amy Poehler on board to host this year’s festivities is a major coup,” says Paul Telegdy, President of Alternative and Late Night Programming at NBC Entertainment. “Tina and Amy have a proven chemistry and comedic timing from their many years together on SNL to their successful co-starring roles in Baby Mama.”