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Dick Clark Productions and Eldridge announced Monday morning that they have acquired all assets, rights and properties of the Golden Globes from the Hollywood Foreign Press Association. As a result, the Hollywood Foreign Press Association and its members, which presented the awards, will be dissolved.
The announcement was made by Todd Boehly, Chairman of Eldridge, and Jay Penske, CEO, Chairman and Founder of Penske Media, who is also CEO of DCP.
Using the proceeds of the transaction and the HFPA’s existing resources, the new owners will establish the Golden Globe Foundation, which will continue the HPFA’s entertainment-related charitable giving.
Under the terms of the agreement, DCP and its partners will plan, host and produce the annual Golden Globe Awards show and pursue commercial opportunities for the Golden Globes worldwide.
Dick Clark products. announced in February that the 81st Annual Golden Globe Awards will be held on Sunday, January 7, 2024. There is still no broadcast partner for the event after the awards show’s recent deal with its longtime broadcaster NBC expired. Discussions were held with broadcasters such as NBC.
Today’s transaction completes a process that began last July when the HFPA approved Eldridge Industries’ proposal to create a private entity to administer the Golden Globes assets, with a separate not-for-profit organization to maintain its charitable and philanthropic programs .
The reorganization was proposed by Boehly, Eldridge’s chairman and CEO, who was appointed interim CEO of the HFPA in the fall of 2021 as the organization was being restructured following backlash over its practices and lack of diversity. Eldridge jointly owns with PMC Dick Clark Productions, which produces the Golden Globes.
“We are pleased to complete 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 televising, following a non-televised ceremony in 2022 amid controversy over the lack of diversity among HFPA members. The ceremony drew 6.3 million viewers, a record low.
Penske Media Eldridge acquired dcp in January as part of a larger strategic alliance, with Eldridge expanding on its existing partnership with entertainment media brands Penske Media and SXSW. PME is a PMC subsidiary and a joint venture between Penske Media Corporation and Eldridge.
PMC is the owner of Deadline.