Following years of unrest, the Golden Globe Awards have undergone a change in ownership. The nonprofit Hollywood Foreign Press Association (HFPA) and its membership have been dissolved, and the enterprise has been transformed into a for-profit venture. This announcement was made on Monday.
A partnership between Dick Clark Productions (DCP) and billionaire businessman-investor Todd Boehly’s Eldridge Industries has acquired the assets, rights, and properties of the Golden Globes from the HFPA.
The financial details of the transaction were not disclosed.
Proceeds from the transaction, along with the existing resources of the HFPA, will be converted into the newly formed Golden Globe Foundation. This foundation will oversee the group’s philanthropic and charitable efforts, according to the partnership.
DCP and its partners have also stated that they will produce the annual Golden Globe Awards show as part of the transaction. They plan to expand the commercial opportunities associated with the show. The 81st Annual Golden Globe Awards ceremony is scheduled for January 7, 2024.
“We are thrilled to finalize this highly anticipated transaction, approved by our members, and transition from a member-led organization to a commercial enterprise,” said Helen Hoehne, who previously served as the president of the HFPA, in a statement.
“This is a significant milestone in the evolution of the Golden Globes,” stated Todd Boehly, the chairman of Eldridge. He expressed gratitude towards Helen and her team for their dedication to implementing a strong governance approach, expanding the diverse and international voting body, establishing a professional and accountable environment, and entrusting new ownership with the future direction of the Globes.
Jay Penske, the CEO, chairman, and founder of Penske Media, the company that owns DCP, emphasized their mission as stewards of the Golden Globe Awards. They aim to create the most engaging awards ceremony on live television, reaching audiences across the globe. Penske Media has assembled a talented team to elevate this iconic brand and celebrate the best of television and motion pictures.
The HFPA, a powerful group of international entertainment journalists responsible for the Golden Globes for the past 80 years, has faced criticism in recent years for ethical concerns, limited membership, and lack of diversity among its members. The group, which has faced legitimacy questions for decades, underwent operational changes while seeking to increase its membership and the diversity of Golden Globe voters. The resulting turmoil led to NBC pulling the 2022 show from airing.
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