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 acquired all of its assets, rights and properties from the Hollywood Foreign Press Association ( HFPA).
The transaction comes with news that the HFPA is dissolving. Proceeds from the transaction, in addition to the HFPA’s existing assets, will go to the newly formed non-profit Golden Globe Foundation created to continue the HFPA’s efforts to donate to entertainment-related charitable causes.
The annual Golden Globe Awards itself will now be fully planned, hosted and produced by DCP, with plans to pursue global commercial opportunities for the Golden Globes brand. The 81st Golden Globe Awards will take place as early as Sunday, January 7, 2024. It will be the first show since DCP and the Golden Globes were acquired by Penske Media Eldridge in January 2023.
The announcement of the acquisition came with a statement from HFPA President Helen Hoehne saying, “We are thrilled to conclude this much-anticipated member-approved transaction and transition from a member-led organization to a commercial enterprise.” . While it’s confirmed that the HFPA membership will still be involved in the voting process for the 2024 Golden Globe Awards, the acquisition still raises 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. While efforts were made to ensure the voting body was more inclusive, the awards broadcast was canceled in 2022 and only returned to NBC in 2023 after the Golden Globes became a for-profit corporation under the new CEO and owner Todd Boehly of Eldridge Industries.
The move was not without its problems, as it was reported that legacy HFPA members were now receiving an annual salary of $75,000, while outside reporters brought in to help diversify the Golden Globes’ voting body were not compensated monetarily. IndieWire has reached out to representatives of DCP and Penske Media Eldridge to clarify whether those payments will continue after the HFPA is fully dissolved.
Boehly said in a statement along with news of the acquisition, “My partners and I at DCP are grateful to Helen and the team for their commitment to the successful implementation of a robust governance approach, the expansion of the diverse and international voting, the implementation of a professional voting system, a safe and responsible environment, and trusting new ownership with a new direction for the Globes.”
Meanwhile, Jay Penske, CEO, President and Founder, Penske Media and CEO of DCP said, “As steward of the Golden Globes, our mission is to continue to create the most dynamic awards ceremony on live television seen in all the world”, stating the focus on broadcast awards in particular. “We have a great team in place to grow this iconic brand and captivate 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 Globes, in January 2023.
