Despite the optimistic news coming out of the studios/WGA discussions, the Associated Press (AP) announced around 9:00 AM EST that Vanity Fair is cancelling its annual Academy Awards party on February 24th.
Vanity Fair began holding the glitzy affair at Morton's restaurant in 1994.
"After much consideration, and in support of the writers and everyone else affected by this strike, we have decided that this is not the appropriate year to hold our annual Oscar party," said a statement posted on VanityFair.com.
"We want to congratulate all of this year's nominees and we look forward to hosting our 15th Oscar party next year," the magazine said.
The AP said that Vanity Fair's editor made the decision to cancel the party after talking with writer friends. The move is intended to show "solidarity with the writers, directors and actors."