The Golden Globe Awards have been sold to Dick Clark Productions, a US TV production company.
The Hollywood Foreign Press Association (HFPA), which founded the award in 1943, announced that Dick Clark Productions and the holding company Eldridge have bought all assets, rights, and properties of the Golden Globe.
This, the award show added, will result in what it described as the winddown of the HFPA and its membership.
HFPA is a nonprofit of journalists and photographers who report on US entertainment for foreign media markets.
It is known for conducting the annual Golden Globe Awards ceremony every January in Los Angeles, California.
HFPA, which has seen multiple scandals, is made up of about 105 members from approximately 55 countries.
Dick Clark, in turn, produces live TV projects including the Academy of Country Music Awards, the American Music Awards (AMA), the Billboard Music Awards, and Dick Clark’s New Year’s Rockin’ Eve with Ryan Seacrest.
HFPA said its resources and proceeds from the sale will transition into a newly formed Golden Globe Foundation.
As part of the transaction, Dick Clark and its partners will plan, host, and produce the annual Golden Globe.
They will also pursue commercial opportunities globally ahead of the 2024 Golden Globe to hold on January 7.
This, both parties said, will see the brand transition from a member-led organisation to a commercial enterprise.
For HFPA, the sale comes after years of facing high-profile controversies over ethical lapses and a lack of diversity.
HFPA came under fire in February 2021 when an LA Times exposé reported that it had zero Black members.
In May 2021, NBC stated that it would not broadcast the 2022 Golden Globes as a result of the news and backlash.
There were also threats of Hollywood boycotts due to inclusivity concerns, something HFPA moved to address.
In 2018, an actor claimed Philip Berk, HFPA ex-president, sexually assaulted him at a 2003 Beverly Hills luncheon.
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