Cate Blanchett will be honored with the Modern Master Award early next year at the Santa Barbara International Film Festival. The presentation will be a signature event during the 23rd Annual Santa Barbara fest, set for January 24 - February 3 in California. Blanchett is at the center of two upcoming releases, Todd Haynes' "I'm Not There" and Shekhar Kapur's "Elizabeth: The Golden Age." "Cate Blanchett is the most consummate actor," commented festival head Roger Durling, in a statement, "and portraying Queen Elizabeth and Bob Dylan in the same year - and so indelibly - is pure alchemy. We're so eager to honor her in the upcoming festival." [Eugene Hernandez]