By Indiewire | Indiewire April 4, 2007 at 9:59AM
Martin Scorsese will be busy at this year's Cannes Film Festival. The Oscar-winning director ("The Departed") will give a master class on moviemaking to students and film buffs May 24, the festival said Wednesday. Scorsese will present a prize for the festival's best film by a first-time director at the May 27 closing ceremony. Also at Cannes, he is to announce the creation of a new foundation "devoted to the preservation and restoration of the masterpieces of world cinema," the festival said. AP reports.