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Transcript by Newsy: http://www.youtube.com/user/NewsyPolitics?feature=guide BY ALLIE SPILLYARDS ANCHOR MEGAN MURPHY Washington's media elite and their guests are puttin' on the ritz for DC's annual Nerd Prom— AKA the White House Correspondents' Dinner. It all takes place Saturday night at DC's Washington Hilton Hotel. According to New York Daily News.... This year's high profile attendees include: George Clooney, Lindsey Lohan and Kim Kardashian... just to name a few. But not everyone is mesmerized by the glitz and glamour. New York Magazine's Frank Rich tells CNN's Piers Morgan... "To see button down Washington press people and political people just slover over anyone on a red carpet is just really kind of embarrassing." And one high-profile invite's stirring up drama before the red carpet is even rolled out. The Atlantic Wire reports — "Prom is a bad time to break up with your first true love but Newt Gingrich is doing it anyway. At this weekend's White House Correspondent's Dinner, Gingrich is jilting Fox News and canoodling with the network's competition: CNN and MSNBC." Late night talk show host Jimmy Kimmel is hosting this year's event. He tells The Huffington Post — he's more anxious about hosting the Correspondents Dinner than he is about hosting the Emmy's later this year. "I'm an outsider in Washington, for sure, and I think a mistake that one could make is pretending to be an insider when you aren't one. I don't want to do any jokes I might not actually get." A writer for the Washington Times suggests, Kimmel has reason to be nervous. "In theory, the star-studded annual dinner is a plum gig, a once-in-a-lifetime chance for comics... In reality, it's a nerve-wracking, sweat-through-your-tuxedo pressure cooker for comics and presidential joke penners alike. Off-color and ill-advised jokes can result in national controversy; political cracks can touch off outraged partisan food fights." And although Kimmel's feeling the pressure, President Obama will also be in the spotlight, as nerd promers wait to see if he can live up to highlights like this from last year. "No one is prouder to put this birth certificate issue to rest than the Donald. He can finally get back to focusing on issues that matter. Like, did we fake the moon landing?" (VIDEO SOURCE: C-SPAN)