Let $X$ and $Y$ be smooth projective schemes with $Y \subset X$. Let $\pi : \widetilde{X} \to X$ be the blow up of $X$ along $Y$ with exceptional divisor $E$.
I have seen the statement that Zariski's Main Theorem implies that $\pi_{*}(\mathcal{O}_{\widetilde{X}} ) \to \mathcal{O}_{X}$ and $\pi_{*}(\mathcal{O}_{E}) \to \mathcal{O}_{Y} $ are isomorphisms. Why is this true?
References and suggestions will be appreciated.
This MO post is a great reference if you're ever trying to figure out or remember when for a morphism $f:X\to Y$ we will have $f_*\mathcal{O}_X=\mathcal{O}_Y$.
Here's the relevant portion of that answer for this post, in order to make this answer self-contained:
This applies to your situation as follows: the blowup map $\pi:\widetilde{X}\to X$ is a projective birational map with connected fibers. Since projective and connected fibers are preserved under base change, we see that the base change of this map $E\to Y$ is again projective with connected fibers, so we may also apply the result there, via the Stein factorization described in the first paragraph (even though this last morphism is not birational - $\dim E=\dim X-1\neq \dim Y$).