Cinema nuts divided by Oscar tributes (7)
I believe the answer is:
encomia
'tributes' is the definition.
(I've seen this in another clue)
'cinema nuts divided by oscar' is the wordplay.
'nuts' indicates anagramming the letters (nuts can mean crazy).
'divided by' means one lot of letters goes inside another (inserted letters divide the word).
'oscar' becomes 'O' (phonetic alphabet: alpha, bravo, charlie etc.).
'cinema' anagrammed gives 'encmia'.
'encmia' enclosing 'o' is 'ENCOMIA'.
(Other definitions for encomia that I've seen before include "Eulogies" , "very good reviews?" , "tributes" .)