Prince will compete with Madonna and Elton John for big name guests on Oscar night (22Feb09) after announcing he'll host another party at his home.
The pop superstar played host to Stevie Wonder, John Legend, Sean 'Diddy' Combs, Sean Penn and the night's Oscar winners Marion Cotillard, Tilda Swinton and Javier Bardem in 2008 - and he's planning another intimate gathering after the Academy Awards this year.
Meanwhile, Demi Moore, Madonna and entertainment mogul Guy Oseary are planning a second annual post-Oscars party at Oseary's Hollywood home while Elton John will be raising cash for his AIDS Foundation at the Pacific Design Center in Los Angeles.
According to blogger Marc Malkin, the other two major parties on Oscar night are the Vanity Fair bash at the Sunset Tower hotel and Mercedes-Benz annual celebration, which will take place at the Montage Beverly Hills.