The Golden Globes Become A For-Profit Enterprise

Golden Globes

In a press release on Monday, June 12, it was revealed that the Golden Globe Awards would no longer be under the oversight of the Hollywood Foreign Press Association (HFPA), the organization of non-American journalists that founded it in 1943, and, instead, continue as a for-profit enterprise.

The change occurred when Dick Clark Productions and Eldridge acquired all the Golden Globes’ assets, rights, and properties from the HFPA. The new partners expressed their intent to establish a new Golden Globe Foundation through which it will continue the HFPA’s entertainment-related charitable actions. Some HFPA members — including President Helen Hoehne — will be a part of the new organization, but others will not. As part of the transition, DCP and its partners will plan, host, and produce the annual Golden Globe Awards show and pursue Globes-related commercial opportunities across the world. In a statement, Hoenhne said, “We are excited to close on this much anticipated member-approved transaction and transition from a member-led organization to a commercial enterprise.”

Todd Biehly, chairman of Eldridge, also had much to say about the transition. “Today marks a significant milestone in the evolution of the Golden Globes,” said Boehly, adding, “My partners at DCP and I are grateful to Helen and the 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.”

When the press reached out to Jay Penske, the CEO of DCP, Penske claimed, “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.” He had confidence that his team at DCP would develop the Golden Globes brand to captivate new and existing audiences.

The 81st Golden Globe Awards are scheduled for Sunday, January 7, 2024, though a broadcasting partner has not yet been announced. The uncertainty is due to HFPA’s longtime deal with NBC ending earlier this year.