Hollywood Foreign Press to shut down; Golden Globes sold to Dick Clark Productions and Eldridge

HOLLYWOOD, LOS ANGELES (KABC) -- The Hollywood Foreign Press Association announced it has sold the assets, rights and properties associated with the Golden Globes to Dick Clark Productions and Eldridge, signaling the end of the troubled nonprofit.

The transaction will result in the creation of the Golden Globe Foundation, which will "continue the legacy HPFA's history of entertainment-related charitable giving," according to a press release.

The 81st Golden Globes will go on as scheduled on January 7, 2024, but the HFPA will no longer be running it. Dick Clark Productions, a commercial enterprise, will plan, host and produce the Golden Globes.

The switch will open the Golden Globes to more commercial opportunities.

The HFPA and its members will winddown their operations as a result of the sale.

"We are excited to close on this much anticipated member-approved transaction and transition from a member-led organization to a commercial enterprise," said Helen Hoehne, the president of the HFPA.

The Golden Globes have been an awards show since 1944.

The HFPA had received much criticism in recent years for its financial lapses and lack of Black membership. The 79th Golden Globes in 2022 was not aired and boycotted by much of the industry.

The show returned in 2023, but a cloud still loomed over the broadcast.

Now, the awards show will be run by the world's largest producer of live event entertainment, Dick Clark Productions, which puts on other beloved shows such as a New Year's Eve event in Times Square.

"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, 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."