As we first reported yesterday, the writers' strike has forced Vanity Fair to pull the plug on its famed Oscar Party, leaving A-Listers without a default post-awards hangout for the first time in 14 years.

The soiree, which reportedly costs upward of $1 million (not including the ancillary cost of putting up a host of Vanity Fair staffers at the Beverly Hills Hotel for the three weeks preceding the party or the food and black car expenses they might incur), was set to be held at Century City restaurant Craft, a departure from the old standby, Morton's. Of the new space, a hangout frequented by CAA agents, Carter said, it's "the ideal place for the party: great food—which we will not be serving family-style, by the way—great location with a dramatic entrance and a big, sweeping space."

It's unclear how much money Vanity Fair stands to lose on the last-minute cancellation—construction on the elaborate set had not yet begun, though the magazine did print up 900 invitations. (For a look at just how labor-intensive party preparations are, as well as a funny anecdote about the time Courtney Love called VF special projects director and event organizer Sara Marks a "cunt," read Carter's account here.) A call to Craft has not yet been returned.

Graydon isn't the only one canceling a fete out of solidarity with the writers: William Morris agent Ed Limato, who became a frequent New York Post punching bag after throwing a drink in the face of Page Six editor Richard Johnson at the VF party four years ago, is also canceling his annual pre-Oscar viewing party.

So where to next? Interestingly enough, Morton's, which has since been bought out by London-based members-only club Soho House, is said to be throwing a get-together to fill the void. Elton John is still hosting his annual party, which raises money for HIV/AIDS awareness. And CAA's Bryan Lourd and Endeavor's Ari Emanuel are, as of now, going ahead with festivities at their respective homes.