It's that time of year when Hollywood asks: Harvey who?

The business of Oscar handicapping is underway in earnest this week as Miramax Films' "Cold Mountain" neared its nationwide debut on Christmas Day, already the year's top, early Oscar favorite after racking up eight Golden Globe nominations.

Nicole Kidman (L) and Jude Law (R) are seen in a scene from the film 'Cold Mountain.' The business of Oscar handicapping is underway in earnest this week as Miramax Films' 'Cold Mountain' neared its nationwide debut on Christmas Day, already the year's top, early Oscar favorite after racking up eight Golden Globe nominations.

The Golden Globe Award, presented by the Hollywood Foreign Press Association, serve as a major showcase for the year's top movies, actors and actresses leading up to the Academy Awards, the U.S. film industry's top honors set to be given out this year on Feb. 29.

And since the 1990s, Miramax and its chief, Harvey Weinstein, have been formidable competitors at Oscar time, backing winners like "The English Patient" and "Shakespeare in Love." Even in years when its film slate was weaker, Miramax could field a nominee like such 2001's "In the Bedroom."

This year Miramax, a unit of Walt Disney Co., looks strong, but Cold Mountain's nominations, positive reviews and all out support from Weinstein are not shaking the confidence of the other contenders.

They are an impressive list as well: Columbia Pictures' "Big Fish," Universal's "Seabiscuit," Fox's "Master and Commander: The Far Side of the World," New Line Cinema's "The Lord of the Rings: The Return of the King," Warner Bros' "Mystic River" and "The Last Samurai," Dreamworks' "House of Sand and Fog," and small studio films like Focus Features' "Lost in Translation" or Fox Searchlight's "In America."

"I respect the hell out of him (Weinstein)," said Amy Pascal, studio chief overseeing Sony's Columbia Pictures. "(But) I think Oscar is about the movies, not the campaigns. Oscar voters take this very seriously ... That person has integrity. That person believes in what they do, or they wouldn't be doing it."

Like all the studios, Miramax and Weinstein use the Oscar race to help market films, knowing the publicity that comes from being a nominee brings people to theaters and sells more DVDs and videos.

WEINSTEIN DRAWS FIRE, PRAISE

While his reputation as a savvy Oscar campaigner has earned Weinstein criticism, some filmmakers like Anthony Minghella (news), who directed "Cold Mountain" and "English Patient," say his drive is less about winning awards and more about giving films he loves -- those lacking big action and special effects -- the support to reach a broad audience.

"I'm not sure I entirely believe that," Minghella said about Weinstein's reputation for ruthless Oscar campaigns. "I think it's more about the way they release films. What they do is make particular kinds of films" at Oscar time.

"Cold Mountain" figures well in acting categories, too.

In the best actor contenders, Jude Law faces competition from Sean Penn in crime drama "Mystic River," Bill Murray in "Lost in Translation" about two disenchanted Americans in Tokyo, and Ben Kingsley, who turns in a powerful performance as a Iranian exile in "House of Sand and Fog."

Among top actresses, Kidman meets a monstrous match in Charlize Theron's career-making turn as a female serial killer in "Monster." Scarlett Johansson puts up two diverse performances in "Lost in Translation" and "Girl with a Pearl Earring," and the chances for Diane Keaton in comedy "Something's Gotta Give" are nothing to laugh at.

Finally, what happened to all that talk about the Oscar "screener ban" -- a studio-backed end to mailing videotapes and DVDs to award voters -- reducing low-budget and independent films' odds at winning Oscars?

"Whether screeners went out early or late, I haven't spoken to one awards committee member who hasn't seen the movies they wanted to see," said Tom Ortenberg, head of distribution for indie powerhouse Lions Gate Films, which is fielding Johansson in "Earring," as well as Alec Baldwin for best supporting actor in "The Cooler," among its films.

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