It all started when Vanity Fair canceled their annual Oscar bash a month ago to stand in solidarity with the striking writers. This turned Hollywood insiders upside down, sending shockwaves throughout the A-list circles. Now what? Where were they going to wear the Harry Winston jewels they had on loan for the evening? Don’t worry Madonna and Prince are hosting competing parties that are set to be huge extravaganzas.

VARIETY Reported: One contender to fill this black-tie social vacuum is the party Madonna, her manager Guy Oseary and Demi Moore have put together at the last minute. Whether this affair becomes an annual event hasn’t been decided.The part y, to be held in a home in the Westside hills, will begin around 9 p.m. A few hundred people are invited, although this number will probably expand. One person who’s seen the guest list said, “Everybody’s on it. It gives the A-list Vanity Fair crowd someplace to go to. It will probably be pared down to where it’s 85% talent, not a lot of suits.” But even if this party skims off some of the celebrity cream, the Governors Ball will still be the major draw. “It’s the biggest game in town,” said one exec. “This is going to put the glamour back into the ball.”