Hollywood stars choose between Clinton, Obama

LOS ANGELES (Reuters) - Even as they ponder their Oscar votes, the wealthy stars of Hollywood's liberal establishment are sizing up the choice between the Democratic Party's two leading lights for president in 2008.

The entertainment industry has long been a cornerstone of support for Democrats seeking public office, and New York Sen. Hillary Rodham Clinton, like her husband, former President Bill Clinton, has been one of the chief beneficiaries.

But a newcomer to Hollywood's money trail, Illinois Sen. Barack Obama, is headed next month to a fund-raiser hosted by three of the most influential moguls in show business -- Steven Spielberg, David Geffen and Jeffrey Katzenberg of DreamWorks.

Invitations went out this week to 700 donors and activists asking them to give the allowed annual maximum of $2,300 per person to meet Obama at a Beverly Hills reception on February 20.

A private dinner at Geffen's home in Malibu will be held for those pledging to raise $46,000 for the Chicago Democrat.

But the first high-profile celebrity donation to a 2008 Democratic hopeful went the other way, with actress Elizabeth Taylor contributing $2,100 to Clinton's campaign.

"I like the way she thinks," Taylor said in a statement.

Indeed, several Democratic consultants told Reuters that Clinton remains in a class of her own on the Los Angeles fund-raising circuit, with strong ties to the entertainment community dating back to her husband's time in office.

All indications are that veteran Clinton loyalists like producers Haim Saban and Steve Bing, former studio chief Sherry Lansing and magnate Ron Burkle remain firmly in her camp.

Nevertheless, a parade of celebrities have expressed support for Obama, including Oscar winners George Clooney and Halle Berry and TV talk show host Oprah Winfrey.

Obama launched his exploratory committee 10 days ago, and Clinton quickly followed suit.

A new Time magazine poll found registered Democratic voters favor Clinton over Obama by 40 percent to 21 percent, though Obama drew far greater support across party lines.

HEDGING THEIR BETS

Many of the well-heeled in Los Angeles will write checks to more than one campaign, especially early in the race, as donors hedge their bets, experts said.

"There will be a lot of donations to multiple candidates," Democratic strategist Bill Carrick said.

During the 2004 election cycle, the movie, television and music industries gave a combined $33.1 million to candidates for federal office, most of that to Democrats, according to the non-profit Center for Responsive Politics.

Spielberg plans to help several candidates and has also volunteered to host a fund-raising event for Clinton, according to his political adviser, Andy Spahn.

Spahn added that Spielberg will settle eventually on a single candidate, as will many donors. While Katzenberg has endorsed Obama, Geffen has not made public his support for any single candidate.

Political analysts say for now there is plenty of Hollywood money to go round for Clinton, Obama and other Democrats eyeing the White House, including Connecticut Sen. Christopher Dodd, Delaware Sen. Joseph Biden and former North Carolina Sen. John Edwards, the party's vice presidential nominee in 2004.

"At some point ... it will become a zero-sum game, there will be votes cast, and donors -- many but not all -- will choose up sides," Spahn said.

Some Democratic activists have privately expressed anger at Clinton's early support for the Iraq war. They worry she may prove too divisive a candidate to win at election time or that some voters are facing "Clinton fatigue."

"There's no question that California in general, and L.A. in particular, likes to see new faces and somebody they see as a real comer, and to some degree Obama has achieved rock-star status quickly," Carrick said.

But others said Obama remains relatively untested and that the initial burst of enthusiasm he generated could fade.

"Barack Obama is going to learn things about himself that he himself never knew," veteran Democratic consultant Joe Cirrell said. "It's fashionable right now to be for him."