Wednesday, October 4, 2023

Dick Clark Productions & Eldridge Purchase The Golden Globes

According to a press release that went out earlier today, all of the rights, assets, and properties of the Golden Globes have now been acquired by Dick Clark Productions and Eldridge effectively turning the Hollywood Foreign Press Association (HFPA) into a for-profit organization. Since 1943, the HFPA previously owned the rights and properties of the Golden Globes.

The transaction will result in the wind-down of the HFPA and its membership. The proceeds from the transaction, plus the existing resources of the HFPA, will transition into a newly formed Golden Globe Foundation which will continue the legacy HPFA’s history of entertainment-related charitable giving.

As part of the transaction, DCP and its partners will plan, host, and produce the annual Golden Globe Awards show and will pursue commercial opportunities for the Golden Globes across the globe. Currently, no broadcast partner is tied to The Golden Globes after its longtime partnership with NBC recently ended. Discussions are being held with multiple outlets (including NBC) to air the award show’s telecast. The 81st Annual Golden Globe Awards will take place on Sunday, January 7th, 2024, kicking oft the entertainment industry’s highly anticipated awards season.

“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.

“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 successtul 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 of 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.”

The Golden Globe Awards, viewed in more than 220 countries and territories worldwide, will be controlled by DCP, the world’s largest producer and proprietor of televised live event entertainment programming.

This is evidently a major shakeup in the world of awards season and Hollywood in general. The Hollywood Foreign Press is one of the longest-established organizations in the industry despite a litany of controversies over the years. This leads to a major question that people may be wondering…Who will comprise the voting body for the Golden Globes now? Will it be the same members operating under a newly titled organization? Will it be entirely re-hauled? The Hollywood Foreign Press as a whole has been under scrutiny heavily within the past few years and now may be the time for a complete change. We will see what happens now that DCP and partners have acquired the iconic awards show. 

Do you think this will benefit The Golden Globes as a whole? How will this shake up not only awards season but the film industry? Please let us know in the comments section below or over on our Twitter account.

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Giovanni Lago
Giovanni Lago
Devoted believer in all things cinema and television. Awards Season obsessive and aspiring filmmaker.

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