Actor-director Ron Howard, sportscaster Al Michaels, CBS chief Les Moonves, journalist Bob Schieffer and writer-producer Dick Wolf will be inducted into the Academy of Television Arts & Sciences 22nd Hall of Fame, the selection committee said Wednesday.

For the first time, proceeds from the ceremony, slated for March 11 at the Beverly Hilton Hotel, will benefit the Television Academy Foundation's Archive of American Television, a collection of hundreds of video interviews with TV pioneers.

In addition to the five honorees, the Hall of Fame will posthumously induct Philo T. Farnsworth, credited with inventing all-electronic television transmission.

"Each of this year's Hall of Fame inductees is incredibly deserving of this honor and is truly a legend of our industry," Bruce Rosenblum, chairman and CEO of the Academy, said in a statement. "This will be a spectacular evening, rich with stories and reminiscing."

More than 120 individuals have been inducted into the Hall of Fame since its inception in 1984.

The six-person selection committee -- made up of television and talent executives -- is chaired by Warner Bros. Television President Peter Roth.