Cinema: Oscars 2008 cancelled because of strike?

So no Golden Globes ceremony in 2008...but it doesn't just stop there.

Will the Oscars take place as planned on 24th February? There is mounting tension in the film industry and elsewhere: aside from the consequences for the writers and actors themselves, the economic consequences of cancelling the Oscars would be huge. TV channels, designers, advertisers, film promoters and event organisers would all suffer losses. There's a lot at stake, so its fingers crossed that the dispute over pay will be resolved in time for the biggest night in the film calendar. Hollywood on strike is no small drama.