But President Trump isn't one to be overshadowed, so he's getting in on the awards show action himself.
"The interest in, and importance of, these awards is far greater than anyone could have anticipated!" he said.
The White House hasn't given much indication if the awards will actually happen.
Bannon apologized on Sunday for not responding sooner, calling Donald Trump Jr.
Late night hosts took advantage of Trump's latest invention to poke fun at the president - and put themselves up for the honor, of course.
Noting that Americans are sick and exhausted of being lied to, insulted and treated with outright condescension, the Trump Campaign said "That's why President Trump is crowning the 2017 KING OF FAKE NEWS before the end of the year".
Mr Trump hit back on Twitter, writing: "I think [I] would qualify as not smart, but genius.and a very stable genius at that!" "The good news is, despite his threats to Korea, at least he thinks we're going to make it until Monday".
Trump had, on January 2, announced that he would give away awards to media houses for "dishonesty and bad reporting". "This is a real dilemma for the president because, on one hand, he loves awards and trophies". Traditional news organizations like the New York Times and CNN are sure to walk away with some prizes, but have been characteristically restrained about their ambitions.
Trump has regularly slammed the coverage of his campaign and time in the White House.
Trump frequently rails on the media and accuses reporters and networks of being "fake news".