LOS ANGELES (CelebrityAccess) — Dick Clark Productions (DCP) and their private equity partners, Eldridge, have acquired the Golden Globes brand from the beleaguered Hollywood Foreign Press Association (HFPA)
According to the HFPA, the deal will result in winddown of the organization and its membership. The proceeds from the transaction, as well as the existing resources from the HFPA, will facilitate the launch of a newly formed Golden Globe Foundation, which will continue to support charitable causes.
The deal will also see DCP and its partners plan, host, and produce the Golden Globes and pursue commercial opportunities related to the brand.
The 81st Annual Golden Globe Awards will take place on Sunday, January 7, 2024, kicking off the entertainment industry’s crowded award show season.
Founded in 1943 by foreign journalists working in Los Angeles to provide a more streamlined means of delivering entertainment news to international audiences, the organization launch the Golden Globes the following year.
However, in recent years, the HFPA became entangled in sexual harassment scandals as well as criticism of their membership policies, including questions of diversity within the organization.
“We are excited to close on this much anticipated member-approved transaction and transition from a member-led organization to a commercial enterprise,” said Helen Hoehne.
“Today marks a significant milestone in the evolution of the Golden Globes,” said Todd Boehly, Chairman of Eldridge. “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.”
“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,” said Jay Penske, CEO, Chairman and Founder, Penske Media, and CEO of DCP. “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.”
