Paramount has a major decision to make at the moment, will they or won’t they premiere Damien Chazelle’s “Babylon” at the fall festivals.

Word is that they are unsure what the best route for “Babylon” will be come awards season. Fests or no fests? That is the question they are currently pondering for the December release.

Everyone wants to see a “La La Land” rollout for “Babylon” (Venice, TIFF, Telluride), but the film is said to be a whole other beast. Rarely, has a major studio premiered a late-December 180 minute release in September. Can you remember the last time such a late-year epic has gone to Venice or Toronto?

Festivals are a huge part of award season and a September premiere would no doubt build buzz, and great expectations for the film. However, can that buzz be sustained? “Babylon” is Paramount’s biggest shot at Oscar this season, but buzz can easily deflate before Oscar time.

The film, which clocks in at 185 minutes, stars Brad Pitt and Margot Robbie, and is said to take place between 1925 and 1952, tackling Hollywood’s wobbly transition from the silent era to sound.

Word of mouth is said to be very good for Chazelle’s epic.