Oprah, Barry Diller All Hail to King and Queen ... At Oscar Party

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Oprah and Barry Diller were arm-in-arm at Barry's pre-Oscar party Saturday at his Bev Hills home.

It was a big bash ... Kelly Ripa, Julianne Moore, Naomi Campbell, Rachel Zoe and a bunch of other stars showed, but the 2 moguls at the top of the heap were undeniably Oprah and Barry.