Farewell to the Hollywood Foreign Press Association’s Golden Globes. They will be transforming into a commercial endeavor moving forward.
The Golden Globes will no longer be under the oversight of the Hollywood Foreign Press Association, the organization of non-American journalists that was founded in 1943, and instead will live on as a for-profit enterprise. Dick Clark Productions and Eldridge said (today) Monday morning that they have acquired all the Golden Globes’ assets, rights and properties from the Hollywood Foreign Press Association, turning the Hollywood awards show into a commercial enterprise. As a result, the HFPA and its membership, which have handed out the awards, will shutter.
Dick Clark Productions intends to establish a new Golden Globe Foundation through which it will continue the sort of entertainment-related charitable giving that was perhaps the most admirable quality of the HFPA. Proceeds from the transaction and the existing resources of the HFPA, will see the new owners launch the Golden Globe Foundation, which will carry on HPFA’s entertainment-related charitable giving.
As part of the deal, DCP and its partners will plan, host and produce the annual Golden Globe Awards show and will pursue commercial opportunities for the Golden Globes globally. Today’s transaction completes a process that was kicked off last July, when the HFPA approved Eldridge’s proposal to create a private entity to manage its Golden Globes assets, with a separate nonprofit to preserve its charitable and philanthropic programs.
“We are excited to close on this much anticipated member-approved transaction and transition from a member-led organization to a commercial enterprise,” said HFPA President Helen Hoehne.
The 2023 Golden Globe Awards marked the awards show’s return to TV following a non-televised 2022 ceremony amid the controversy surrounding the lack of diversity among HFPA membership. The ceremony drew 6.3 million viewers, an all-time low.
Some HFPA members — such as president Helen Hoehne — will be a part of the new organization; others will not be. Hopefully her continued involvement doesn’t also see a continued lack of diversity in the nominations.