HFPA dissolves as Golden Globes, acquired by DCP and Eldridge – IndieWire

The Golden Globes’ road to redemption has taken a new turn with the announcement that its production company Dick Clark Productions (DCP) and owner Eldridge have now purchased all of its assets, rights and properties from the Hollywood Foreign Press Association (HFPA).

With the transaction comes news of the dissolution of the HFPA. The proceeds from the transaction, as well as the HFPA’s existing funds, will be used for the newly established non-profit Golden Globe Foundation, whose purpose is to donate to the HFPA’s entertainment-related charitable causes.

The annual Golden Globe Awards itself is now entirely planned, directed and produced by DCP, with plans to pursue global commercial opportunities for the Golden Globe brand. The 81st annual Golden Globe Awards will take place on Sunday, January 7, 2024. This will be the first exhibition since Penske Media Eldridge won the DCP and Golden Globe Award in January 2023.

The announcement of the acquisition came with a statement from HFPA President Helen Hoehne: “We are excited to complete this long-awaited member-approved transaction and transition from a member-led organization to a commercial enterprise.” While it has been confirmed that the HFPA membership will continue to participate in the voting process for the 2024 Golden Globe Awards, the acquisition continues to raise lingering questions.

According to the saga, the Hollywood Foreign Press Association came under fire in 2021 after an LA Times investigation questioned the organization’s ethics and lack of diversity. Although efforts were made to make the voting body more inclusive, the awards show was canceled in 2022 and did not return to NBC until 2023 after the Golden Globes became a for-profit company under Todd Boehly, the new CEO and owner of Eldridge Industries. .

The move was not without its problems, as it was reported that legacy members of the HFPA were now paid $75,000 a year, while outside journalists brought in to diversify the Golden Globes voting pool were not paid in cash. IndieWire contacted representatives of DCP and Penske Media Eldridge to clarify whether these payments will continue after the HFPA is fully lifted.

Commenting on the acquisition news, Boehly said, “My partners at DCP and I are grateful to Helen and our team for their commitment to successfully implementing a robust approach to governance, expanding a diverse and international voting body, and building a professional practice. , a safe and accountable environment, and entrusting the new owners with the new direction of Globes.”

Meanwhile, Jay Penske, CEO, chairman and founder of Penske Media and CEO of DCP, said, “As stewards of the Golden Globe Awards, our mission is to continue to create the most dynamic awards ceremony on live television, watched around the world.” focus specifically on brokered fees. “We have a great team to develop this iconic brand and engage our new and existing audiences to celebrate the best in television and film,” he added.

IndieWire’s parent company, Penske Media Eldridge, acquired Dick Clark Productions, home of the Golden Globe Awards, in January 2023.