They're in a tight spot here. They knew he was winning best actor, so it would be awkward to censure him. Also, given that he is a POC actor in an industry relentlessly criticized for being too white, they would be on thin ice if they kicked him out or took back his award. On the other hand, he just assaulted the host of your show on national television.
Even the LAPD wimped out on this one. They don't need Chris Rock to press charges. It's not Chris Rock vs. Will Smith. In a criminal case, it's "The People" vs. Will Smith. And Will Smith committed an assault on national television. There is plenty there with which to charge him, arrest him, and hold him until he posts bail. But... ...they don't want any part of it.
Even the LAPD wimped out on this one. They don't need Chris Rock to press charges. It's not Chris Rock vs. Will Smith. In a criminal case, it's "The People" vs. Will Smith. And Will Smith committed an assault on national television. There is plenty there with which to charge him, arrest him, and hold him until he posts bail. But... ...they don't want any part of it.
Then again, they could always change their mind and charge him later on.