video transcript

ROUGH CUT (NO REPORTER NARRATION) STORY: The veranda of the State Supreme Courthouse in New York City twinkled with white and blue lights on the eve of the 2012 Tribe Film Festival on Tuesday (April 17) with its annual party hosted by Vanity Fair. The U.S. magazine has been hosting the festival's party since 2001 when it was founded by Academy Award Winner, Robert De Niro, film producer Jane Rosenthal, and her husband, philanthropist Craig Hatkoff. The trio founded the festival as a way to stimulate lower Manhattan's economy after the 9/11 attacks. "When we first started we did the first film festival in 120 days and Bob and I had gone to Graydon Carter (Vanity Fair editor-in-chief) and asked if he would do a party which really would signify that we are here the way that Vanity Fair does in Hollywood in Cannes, in Washington. And they've been doing it with us for ten years - or for us for ten years, so we are really grateful to that," said Rosenthal. This year's celebrations brought out power couple Catherine Zeta Jones and Michael Douglas, actress Lily Cole, news anchor Katie Couric, and this year's Oscar host Billy Crystal, who said he is unsure if he'll host again. Celebrating the growth of independent films and having a little fun before getting to work as jury members for the Tribeca Festival Awards were actresses Dakota Fanning and Leelee Sobieski. Fanning said she is excited to be exposed to a wide variety of films. The Tribeca Film Festival, one of the most awaited film festivals in the world, opens on April 18 and will end of April 28.