The Hollywood Foreign Press Association will wind down now that production company Dick Clark Productions and private equity firm Eldrige have acquired all of the Golden Globe Awards’ assets, rights, and properties.
The HFPA announced the transition in a press release on Monday, adding that DCP and its partners will plan, host, and produce future Golden Globe ceremonies, with the 81st edition of the awards show slated for Sunday, January 7, 2024.
“We are excited to close on this much anticipated member-approved transaction and transition from a member-led organization to a commercial enterprise,” HFPA president Helen Hoehne said.
The proceeds from the sale will join the HFPA’s existing resources to fund a new Golden Globe Foundation which will “continue the legacy HFPA’s history of entertainment-related charitable giving,” according to the release.
The news comes after more than two years of upheaval for the HFPA, including controversies about the organization’s ethics, financial practices, and lack of diversity. As the HFPA committed to reform, NBC opted not to air the Golden Globes in 2022/ The awards show returned to NBC this January for the final year of the network’s Golden Globes contract.
“Today marks a significant milestone in the evolution of the Golden Globes,” said Todd Boehly, chairman and CEO of Eldridge and the HFPA’s interim CEO. “My partners at DCP and I are grateful to Helen and team for their commitment to the successful implementation of a robust approach to governance, the expansion of the diverse and international voting body, implementing a professional, safe, and, accountable environment, and trusting new ownership with a new direction for the Globes.”
According to the Los Angeles Times, California’s attorney general approved Boehly’s proposal to end the HFPA and to make its 95 members into employees of a for-profit enterprise.
In the release, DCP CEO Jay Penske said, “As stewards of the Golden Globe Awards, our mission is to continue creating the most dynamic awards ceremony on live television viewed across the world. We have a great team in place to grow this iconic brand and captivate new and existing audiences to celebrate the very best in television and motion pictures.”