I could argue that this is more important than the Oscars

It's the Razzies.

BBC NEWS | Entertainment | Lohan and Murphy dominate Razzies

Lindsay Lohan and Eddie Murphy have both been crowned the worst actors of 2007 at the Golden Raspberry Awards, or Razzies, which spoof the Oscars.
They each won three gold spray-painted trophies worth $4.89 (£2.48).

Shorter Live Blogging of the Oscars from Japan:
Where's the fucking coverage. How can you run the red carpet clips for 3 hours then skip directly to the post-Oscars party? Bastards!