In Move to Save Golden Globes, HFPA to Become For-Profit Org, Add More Voting Members
variety.comMichael Schneider Variety Editor at LargeEldridge Industries is taking over the Golden Globe Awards, which will be turned into a private entity separate from the Hollywood Foreign Press Association’s charitable and philanthropic programs, which will be managed as a non-profit entity.The HFPA membership voted to approve the transfer of ownership to Eldridge, which is run by Todd Boehly, who has served as the org’s interim CEO since last year.
The HFPA put itself on the auction block in May, and Boehly had been looking to buy the organization since then. This spring, the group formed a special committee within the nonprofit organization to determine potential outside strategic interest in its organization and assets.“This is a historic moment for the HFPA and the Golden Globes,” said HFPA president Helen Hoehne. “We have taken a decisive step forward to transform ourselves and adapt to this increasingly competitive economic landscape for both award shows and the journalism marketplace.
Our special committee and team of legal and financial advisors did an incredible amount of work in reviewing, analyzing, and comparing the options presented to us.
We are excited to move forward with a mandate to ensure we continue our support for increasing diversity in all areas and maintaining our life-changing charitable and philanthropic efforts.” According to the HFPA, Eldridge will create a new private company, which would acquire all rights for the Golden Globes intellectual property “and be empowered to oversee the professionalization and modernization of the Golden Globe Awards.
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