For nearly 40 years, Clive Davis' pre-Grammy Gala has been music's most fabulous party, exclusive concert and greatest schmoozefest, all rolled into one. For the first time, A-list attendees share their favorite stories of the legendary gathering.

When Clive Davis formed Arista Records in 1973, the label lacked the renown of its competitors. To level the playing field and heighten Arista's profile during Grammy season, Davis used not just his business acumen, but his love of showbiz -- and the spotlight -- to promote his new venture. Clive's annual Grammy party, held on the Saturday night before the awards in five-star hotel ballrooms, became the industry's most exclusive and storied bash.

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