All of the Golden Globes' assets, rights, and properties have been acquired by Dick Clark Productions (DCP) and asset management company Eldridge from the Hollywood Foreign Press Association (HFPA) as it begins to wind down its operations, it was announced on Monday.
The largest producer and proprietor of televised live event entertainment programming DCP and its partners will plan, host, and produce the annual TV and film awards show and pursue commercial opportunities for it as part of the transaction.
The financial terms of the deal were not disclosed.
DCP CEO Jay Penske said: "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.”
“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.”
Proceeds from the transaction and the HFPA’s existing resources will be used to create the new Golden Globe Foundation which aims to continue HFPA’s “history of entertainment-related charitable giving,” the Golden Globes said in a statement.
Founded in 1943, the HFPA is a group of journalists and photographers reporting on the American entertainment industry which is best known for founding the Golden Globes in 1944 and putting on the annual event.
The organization, however, has come under scrutiny in recent years over allegations of sexual harassment against its former president Philip Berk, lax membership criteria, unethical practices, and a lack of diversity among its members.
The 81st Annual Golden Globe Awards will take place on Sunday, January 7, 2024, kicking off next year’s entertainment awards season.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on Twitter @emilyjjarvie