Celebrity News

How the Globes Cancellation May Cost Hollywood

The cancellation of the Golden Globe Awards has everyone buzzing: How will this cost Hollywood?

It was supposed to be a red carpet to remember this weekend at the Beverly Hilton, where nominee Julia Roberts was expected to mingle with good friends Brad Pitt, George Clooney and Denzel Washington.

But now all fans will see is an hour-long press conference announcing the winners. Those glamorous parties with all those glamorous gowns are all canceled. In all, it's an estimated $80 million loss.

The big question now: Could we see a repeat of this come Oscar time? The striking writers have already put up a roadblock for the Academy.

However, Oscar reps remain confident they can work out an agreement before the show airs Feb. 24.