Graydon Carter

After canceling this year's shindig because of the writers' strike, Vanity Fair is set to bring back its star-studded Oscar after-party in 2009 — but with less fanfare.

The magazine's editor, Graydon Carter, announced that next year's soiree will be scaled back to create a "much more intimate" atmosphere due to the current state of the economy, The Associated Press reports.

How intimate? The party will re-use décor from past celebrations and the guest list will be shortened as well. That means you'd really have to be A-List to get through the door.

The party will go down Feb. 22 at West Hollywood's Sunset Tower Hotel.