Golden Globes change hands as Hollywood Foreign Press Association shuts down

The Hollywood Foreign Press Association (HFPA), the organisation behind the annual Golden Globe awards (also called Golden Globes), is no more. This comes after a series of seemingly never-ending scandals involving the HFPA, including a 2021 Los Angeles Times expose that revealed, among other things, that HFPA did not have a single black member. As the name suggests, HFPA was mostly made up of overseas journalists and photographers on the entertainment beat in different media like newspapers, magazines, books, radio, and TV broadcasting. You would think with journalists from so many countries, HFPA is likely a pretty diverse organisation. But for a long time, accusations of racism, coteries blocking the entry of journos outside the 'circle', bribery from studios in exchange for awards, lack of transparency, and more stalked HFPA.

Who bought the Golden Globes?

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Eldridge Industries, owned by billionaire investor Todd Boehly, and Dick Clark Productions, a subsidiary of Penske Media, have agreed to purchase the HFPA's Golden Globe assets for an undisclosed amount, reported the New York Times. The proceeds from the sale will go to a new nonprofit entity called the Golden Globe Foundation, which will carry on the HFPA's philanthropic endeavours.

The HFPA members, most of whom were freelance journalists, will become employees of a yet-to-be-named for-profit entity. Their responsibilities will include watching films and television shows, participating in the voting process for the awards, and creating promotional content for a Golden Globes website. While it remains unclear if they can continue freelancing for overseas publications, the former members will receive an annual salary of $75,000 for five years.

Also Read:Explained: How Golden Globe Awards winners are chosen

What HFPA's demise entails

Boehly called the dissolution of the HFPA a significant milestone in the history of the Golden Globes. He expressed gratitude to Helen Hoehne, the association's former president, for her efforts in pushing through reforms that aimed to improve governance and 'professionalise'the awards entity.

Jay Penske, the CEO of Penske Media, stated that they have a strong team in place to grow the iconic Golden Globes brand. Eldridge and Dick Clark Productions, known for producing the Globes telecast, have been seeking a new broadcast network or streaming service partner since NBC canceled the 2022 telecast. The 81st Golden Globe Awards ceremony has been scheduled for January 7.

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