Davis has partnered with the National Academy of Recording Arts and Sciences to host the Sony impresario’s annual gala at the Beverly Hilton Hotel in Beverly Hills, Calif. Feb. 8 – the evening before the 51st annual Grammy Awards are presented at Los Angeles’ Staples Center.

In previous years, Sony Music Group picked up the price tag for Davis’ star-studded fetes, but a source reportedly close to the matter told the New York Post’s Page Six gossip column that the times are a-changin’.

“Sony told Clive it wasn’t going to pay for the party this year,” the source said. “It was a bad year for them, and [Sony chief] Howard Stringer feels the party doesn’t help sell any albums and only serves to promote Clive’s ego. … Clive then tried to get his own sponsors but couldn’t, so NARAS stepped in. But forget about next year. It’s over.”

The Academy will present Davis with the President’s Merit Award as part of the 2009 Grammy Salute to Industry Icons festivities. Past recipients have included Ahmet Ertegun, Mo Ostin, Herb Alpert, Jerry Moss and Berry Gordy.