Graydon’s Grand Old Party: The Making of Hollywood’s Biggest Bash

by

From 1964 onwards, Irving “Swifty” Lazar had been hosting the most prominent social event in Hollywood, an annual Academy Awards party that by the early 1990s took place at Wolfgang Puck’s Spago. Swifty was a renowned talent agent who represented stars such as Humphrey Bogart and Lauren Bacall. He organized his party with meticulous precision, managing it like a miniature Stalin, arranging seating according to the importance of the guests and scolding those who dared to stand up and leave during the ceremony for a bathroom break. Admission was highly sought after and strictly controlled; in 1983, Graydon Carter, on assignment for Time, attempted to charm his way past the door while dressed in a tuxedo but was refused even parking by the valet.

Following Swifty’s demise in 1993, Graydon, freshly appointed as the new editor of Vanity Fair, saw an opportunity. Couldn’t VF host its own event instead? Graydon envisioned this gathering as a strategic move for the magazine and a means to mend frayed ties on the West Coast. Instead of being perceived as the intimidating character from Spy, the satirical monthly he launched in 1986, he aimed to present himself anew to a cautious film industry as a warm, generous host. He was confident that his superior, Si Newhouse, the owner of Condé Nast, would endorse this move. Like Graydon, Si was captivated by the allure of cinema, confiding in friends that if given a choice, he would have chosen to be a magazine editor — or a film director.

Graydon focused on Morton’s, the prominent eatery in West Hollywood frequented by studio executives like Michael Ovitz and Michael Eisner during their influential period. However, upon contacting the restaurant owner, he found out that a producer named Steve Tisch had previously reserved it for his own Oscar party. Steve Tisch, from an East Coast corporate family, was once labeled as a “failed heir” by Graydon’s magazine ‘Spy.’ It is unclear if Tisch was aware of this label, but when Graydon proposed co-hosting the event, Tisch agreed without hesitation.

Essentially, Tisch functioned as a Trojan horse for Graydon, serving as a well-respected figure from Hollywood – having co-produced the hit movie “Risky Business” with Tom Cruise – who signaled that the new editor of the magazine was now prepared to play harmoniously in the celebrity playground. This was merely one move in a charismatic campaign initiated by Graydon soon after he assumed his role. One of his initial actions was extending an invitation to the influential gossip columnist, Liz Smith, for lunch. According to her account, he apologized for past mistreatment at “Spy”. The old Graydon had criticized Smith as a shameless kiss-up to the famous and wealthy, even going so far as to call her “the best argument for licensing journalists”. However, the new and Conde Nast-ified Graydon invited her to feature in “Vanity Fair”, where she was photographed by Steven Meisel, wearing Converse sneakers and an Anna Sui dress, in a high-profile grunge spread.

Graydon aimed to bring Jane Sarkin, a well-respected contact manager for celebrities who had worked with Tina Brown at VF previously, on board. However, their relationship became strained at Spy when Graydon published an overly flattering and awkward letter written by Tina to Ovitz without Sarkin’s knowledge. This incident occurred while she was on her honeymoon in Bermuda, causing her to interrupt her vacation to take multiple angry calls from Tina. Sarkin later recounted this event as the most embarrassing moment of her career. Upon taking over VF, Graydon recognized the importance of keeping Sarkin and immediately apologized profusely when they met. “Oh my God,” he said, “I’m the worst person in the world.” Remarkably, Sarkin forgave him and stayed on with the magazine.

To mend his friendship with Barry Diller, a prominent figure in entertainment who Graydon occasionally referred to as “gap-toothed,” Graydon sought help from a friend of his – Diller’s wife, Diane von Furstenberg. As Diller himself admitted, “Without my wife, I likely wouldn’t still be talking to him 25 years later.” Shortly after Graydon joined VF, Diller consented to use his influence for a party that the magazine was hosting in Washington before the 1993 White House Correspondents’ dinner. At this event, the tycoon spoke to a journalist the significant words:

“Graydon’s been rehabilitated.”

The first Vanity Fair Oscar party, which took place in March 1994, marked the culmination of E. Graydon Carter’s latest transformation. Sarkin managed to get Tom Cruise and Nicole Kidman to attend. After that, Liam Neeson and Natasha Richardson, Candice Bergen and Anjelica Huston, Nancy Reagan and Gore Vidal were also present. Prince interacted with Lee Iacocca and James Carville while Annie Leibovitz captured the moments on camera. Graydon was stationed at the entrance, warmly welcoming everyone who arrived. There were a few absentees – Jack Nicholson and Demi Moore didn’t show up – and none of the night’s major award winners graced us with their presence. However, one significant guest was satisfied: Si Newhouse, who shared greeting duties with Graydon and was delighted to see the Hollywood he had admired since his childhood transformed into a glamorous spectacle.

The VF party’s influence became evident straight away: A producer attended an event even after being accused by the magazine of smuggling antique coins illegally in its latest issue. To further cement their power, Graydon decided to create a “Hollywood Issue” scheduled for the upcoming Academy Awards. This edition boasted a massive collection of celebrity photographs taken by Leibovitz and Herb Ritts, along with a cover featuring 10 top actresses in sultry lingerie, including Kidman, Uma Thurman, and Julianne Moore. A relatively unknown Gwyneth Paltrow, who would soon make her mark in Seven, was the newcomer on the cover. Due to her lack of recognition at the time, VF’s publisher had to instruct the ad sales team on how to pronounce her name correctly. Unlike the other actresses who posed in their underwear, Paltrow, photographed in a gown, refused, stating, “I can’t. My parents will disown me.

The Hollywood Issue proved to be a significant success, however, it sparked criticism for alleged racial and sexist undertones. With a scarcity of Black directors and actors represented, as well as portraying one of Hollywood’s influential women in a questionable manner, the publication faced accusations. Initially, Sherry Lansing, then chairwoman of Paramount Pictures, was set to participate, but when the shoot failed, Graydon opted to use an old photograph taken by Leibovitz for an American Express advertisement, where Lansing was pictured in a provocative swimsuit lounging by a pool. Unbeknownst to Lansing, the image was published, appearing seductively under the title “Working Girl.” Upon seeing it, Lansing expressed her outrage to the Los Angeles Times: “I erupted when I saw it. This objectifies all women, not just in our industry, and it demonstrates a lack of awareness regarding the evolving role of women globally and how we view ourselves.” Interestingly enough, during that year’s Oscar party at Morton’s, Lansing was spotted smiling and posing with the editor-in-chief. Following a few days of dialogue over lunch, they had reconciled their differences.

In the 1990s, similar to his ancestors from Condé Nast, Graydon mastered using exclusivity as a tool. He often stated that his parties were not just about who was invited, but also about who wasn’t. During this time, there were no social media platforms for celebrities to flaunt their luxurious lives or high-profile friends. Instead, attending the VF Oscar party became a sought-after emblem, similar to Mrs. Astor’s Four Hundred from earlier times. The room was filled with an overwhelming amount of star power, as described by writer Frank DiGiacomo as a “panorama of encyclopedic celebrity.” Even professionals like Regis Philbin and his wife Joy were sometimes confused – when Regis saw Cate Blanchett, he mistakenly called her Gwyneth. Ordinary partygoers such as Will Smith, Sandra Bullock, and even established stars like Warren Beatty waited in line at the entrance just like everyone else.

Being featured on the front page signified that one’s accomplishments or infamy had made an impact in society. Matt Drudge, who went in 1998, two months after he exposed the Monica Lewinsky story on his website, remarked about this. Even Lewinsky herself was invited to the 1999 event, where people noticed her resemblance to another attendee, Shoshanna Lonstein – Jerry Seinfeld’s younger ex-girlfriend. When Lonstein awkwardly served coffee at Graydon’s table, Fran Lebowitz expressed obvious disapproval.

“I’m sorry,” she told Lonstein, “we asked for Monica.”

Lonstein stormed off angrily. “It’s hard to believe,” Lebowitz replied, “that Jerry Seinfeld’s former partner lacks a funny bone.

People from all walks of life went to great extents to secure entry. One year, a woman deceived her way in by pretending to be a staff member, waited hidden in a restroom stall for hours before changing into an evening gown, but was eventually found out by security personnel who escorted her off the premises. One VF editor was given the opportunity to acquire two invitations for $30,000. Bronson van Wyck, a budding event organizer, exploited VF ‘s policy of admitting all winners of the night’s awards. In 1998, van Wyck borrowed an old Oscar statue from a pawnshop, added a personalized plaque reading “Best Sound Editing” (a category that didn’t exist at the time), and arrived in a white stretch limousine. The doormen allowed him entry, and he returned the figurine the following day.

The individual in charge of the official visitor’s list, known as Sarkin, was once confronted by a woman elegantly dressed in a formal gown, who insistently requested permission to enter.

“I need to come in,” the woman explained to Jane. “I’m Jane Sarkin.”

At Condé Nast headquarters, Si felt a sense of satisfaction from all the excitement – and the harmonious blend of the social event and the esteemed status of his magazine. Graydon’s Hollywood Issue consistently topped the charts as a top seller and an enticing draw for advertisers, with agents and publicists clamoring for slots for their clients. As one veteran of VF reminisced, “The cover was crucial for getting a higher price in movies, for competing against others in the industry, for explaining why they couldn’t attend a panel because the other actor wasn’t at the same level. It was incredibly influential.” Taking full advantage of this influence, Si requested that Graydon organize breakfasts with his favorite movie stars during Oscar week; it was not uncommon to see Si, Graydon, Cruise, and Kidman dining together at the Hotel Bel-Air.

Due to various factors, Si found it gratifying to endorse the party’s escalating expenses. At a certain stage, Condé Nast covered the relocation costs for residents neighboring Morton’s, allowing them to stay at a hotel prior to the event. This facilitated Vanity Fair in setting up security tents and large Oscar statues. Graydon, known for his appreciation of aesthetics, was given leeway to fulfill his extravagant ideas. Invitations were dispatched on Benneton Graveur stationery, printed in Paris. Hostesses dressed by Mick Jagger’s girlfriend L’Wren Scott circulated throughout the room. Renowned chef Thomas Keller of Per Se prepared hors d’oeuvres (caviar macarons, truffle lasagna). Prior to the 2012 event, Vanity Fair arranged an apple farm to encase hundreds of Red Delicious fruits in custom-built vises, which applied pressure to alter the natural flow of red pigment. The vises, shaped like Art Deco letters, squeezed the apple as it matured, leaving a unique monogram: “V.F.” These apples were then flown to California and used as centerpieces for the Oscar party tablescapes, alongside ironically served In-N-Out cheeseburgers. The intricacy involved in creating this temporary party decoration, intended for the transient enjoyment of millionaires, was just one of countless elements meticulously planned for each year’s spectacle by Vanity Fair.

On this particular night, it was Graydon’s burning ambition and the swagger of a street-smart individual that led the way, much like it did for Condé Montrose Nast back then, who had brought together the brightest stars of the Jazz Age entertainment and high society in his Park Avenue penthouse many years prior. By the time the Oscar-like topiaries were taken down from Morton’s driveway, and the last revelers made their way into the early morning California cold at 3 a.m., a new cultural milestone had been etched – Condé Nast was once again known as the owner of the world’s most renowned celebrity party.

This passage is taken from “Empire of the Elite: Inside Condé Nast, the Media Dynasty That Reshaped America,” authored by Michael M. Grynbaum. The rights to reproduce this work belong to Michael M. Grynbaum and are granted by Simon & Schuster Inc. in 2025.

The article you’re reading was published on July 9, in the popular magazine, The Hollywood Reporter. If you’d like to read more such articles, consider subscribing by clicking here.

Read More

2025-07-14 15:55