Hollywood Foreign Press Association Shuts Down
The California Attorney General has signed to dissolve the embattled organization.
“The HFPA is no more,” reports The Los Angeles Times. “After two years of turmoil, the tiny, improbably powerful group of international entertainment journalists that has handed out the Globes for 80 years has been dissolved by The California Attorney General.”
The official move comes after Todd Boehly, chairman of Eldridge Industries and parent company of Golden Globes producer Dick Clark Productions, acquired the Golden Globes’ assets and converted the nonprofit’s 95 members into employees of a for-profit enterprise.
Under the deal announced Monday, the financial terms of which were not disclosed, the Golden Globes’ assets were acquired by Boehly’s private equity firm, Eldridge Industries, along with Dick Clark Productions, which has long produced the awards and is owned by Penske Media in partnership with Eldridge. Dick Clark Productions and its partners will oversee the awards telecast and look for other ways to extend the Globes worldwide.
The proceeds from the deal, along with the existing resources of the HFPA, will transition into a newly formed nonprofit Golden Globe Foundation, which will oversee the group’s alleged philanthropic and charitable giving.
Boehly proposed his plan nearly two years ago as the HFPA was reeling in the wake of a 2021 Los Angeles Times investigation that exposed a lack of diversity in its membership and concerning ethical and financial practices.
The Times revealed that the nonprofit paid millions of dollars to its members for “committee work” and other tasks, in potential violation of IRS guidelines. The investigation — particularly the revelation that the group had no black members — sparked an uproar in Hollywood, ultimately leading NBC to pull the show off the air for 2022.
In an effort to enhance diversity and credibility, the group revamped its bylaws and enlisted new nonmember international voters. The result: a voting body of over 310 journalists for the Golden Globes. As part of the association’s new structure, the 95 existing members, who are currently employees, will receive an annual salary of $75,000 despite the scandal.
However, nonmember international voters will not be compensated. “As the Golden Globes embarks on this new chapter, its future remains uncertain,” writes Josh Rottenberg in the Los Angeles Times. “Many Hollywood professionals have questioned whether the Globes will have greater credibility as a for-profit enterprise, particularly given its owner’s potential conflicts of interest.”
Source: Los Angeles Times
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The California Attorney General has signed to dissolve the embattled organization.
“The HFPA is no more,” reports The Los Angeles Times. “After two years of turmoil, the tiny, improbably powerful group of international entertainment journalists that has handed out the Globes for 80 years has been dissolved by The California Attorney General.”
The official move comes after Todd Boehly, chairman of Eldridge Industries and parent company of Golden Globes producer Dick Clark Productions, acquired the Golden Globes’ assets and converted the nonprofit’s 95 members into employees of a for-profit enterprise.
Under the deal announced Monday, the financial terms of which were not disclosed, the Golden Globes’ assets were acquired by Boehly’s private equity firm, Eldridge Industries, along with Dick Clark Productions, which has long produced the awards and is owned by Penske Media in partnership with Eldridge. Dick Clark Productions and its partners will oversee the awards telecast and look for other ways to extend the Globes worldwide.
The proceeds from the deal, along with the existing resources of the HFPA, will transition into a newly formed nonprofit Golden Globe Foundation, which will oversee the group’s alleged philanthropic and charitable giving.
Boehly proposed his plan nearly two years ago as the HFPA was reeling in the wake of a 2021 Los Angeles Times investigation that exposed a lack of diversity in its membership and concerning ethical and financial practices.
The Times revealed that the nonprofit paid millions of dollars to its members for “committee work” and other tasks, in potential violation of IRS guidelines. The investigation — particularly the revelation that the group had no black members — sparked an uproar in Hollywood, ultimately leading NBC to pull the show off the air for 2022.
In an effort to enhance diversity and credibility, the group revamped its bylaws and enlisted new nonmember international voters. The result: a voting body of over 310 journalists for the Golden Globes. As part of the association’s new structure, the 95 existing members, who are currently employees, will receive an annual salary of $75,000 despite the scandal.
However, nonmember international voters will not be compensated. “As the Golden Globes embarks on this new chapter, its future remains uncertain,” writes Josh Rottenberg in the Los Angeles Times. “Many Hollywood professionals have questioned whether the Globes will have greater credibility as a for-profit enterprise, particularly given its owner’s potential conflicts of interest.”
Source: Los Angeles Times
Share:
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