In Move to Save Golden Globes, HFPA to Become For-Profit Org, Add More Voting Members

In Move to Save Golden Globes, HFPA to Become For-Profit Org, Add More Voting Members

Aldridge Industries is acquiring the Golden Globe Awards, which will be turned into a private entity separate from the charitable and philanthropic programs of the Hollywood Foreign Press Association, which will be managed as a non-profit.

HFPA membership voted to approve the transfer of ownership to Aldridge, which is run by Todd Boehly, who has served as the organization’s interim CEO since last year. The HFPA placed itself on the auction block in May, and Boehly has been looking to buy the organization ever since. This spring, the group formed a special committee to determine a potential external strategic interest in its organization and assets within the non-profit organization.

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“This is a historic moment for the HFPA and the Golden Globes,” said HFPA President Helen Hohen. “We have taken a decisive step forward in transforming ourselves and adapting to this increasingly competitive economic landscape for both the award show and journalism markets. Our specialized committee and team of legal and financial advisors did an incredible job reviewing, analyzing and comparing the options presented to us. We are excited to move forward with a mandate to continue our support for increasing diversity in all sectors and sustaining our life-changing charitable and philanthropic efforts. ,

According to the HFPA, Aldridge will form a new private company that will “acquire all rights to the Golden Globes intellectual property” and be empowered to oversee the commercialization and modernization of the Golden Globe Awards. Developing employees and leading the new organization in change. A working team will be involved for this.”

The group said, as part of the transition, the group will add additional Golden Globe voters “to increase the size and diversity of voters available for the annual awards.” But it also begs the question of what a for-profit organization will look like, and whether it will raise concerns over the organization’s already repeated conduct. There is also the question of Boehli now owning the globe and Aldridge, via MRC Live and Alternatives – the company formerly known as Dick Clark Prods, which produces the globe. (Bohli is reportedly aiming to acquire MRC Live and Alternative outright, according to Puck. Such a move could raise questions of conflict of interest.) The HFPA said in its press release that it had no further statements. Will not or will not address the news. Beyond what was announced today.

According to the HFPA, “Bohli was not part of the review, recommendation or approval process. In recent months, the HFPA’s financial advisor, Houlihan Loki, received several submitted proposals from a number of companies and investment groups. Each proposal was reviewed and approved by the HFPA. Analyzed by the Special Committee of the U.S. with its legal advisors, Morgan, Lewis & Boccius LLP.

The special committee was made up of three external independent members of the HFPA’s board: Charlotte Hambrick, Jeff Harris and Dr. Joanna Massey.

“This review process was comprehensive, deliberate and thoughtful to ensure fairness and accuracy,” Hohen said. “As per our bylaws, the decision ultimately rested with our membership, who voted on the resolution. As we look forward to celebrating our 80th anniversary in January 2023, we are incredulous about this new era for our association. Absolutely excited.”

The HFPA’s move comes after more than a year of turmoil for the nearly 80-year-old press organization, which has been endowed with lucrative fees from NBCUniversal and other partners for the Golden Globe Awards over the past 25 years.

There’s still no confirmation on whether the Globes will return to NBC in 2023, but the new ownership structure is potentially a step forward in doing so. as Diversity Reported in June, the HFPA met with major studios in the network in the spring and early summer to compile a list of changes the organization had made over the past year and a half. The HFPA added 21 new members (about half of whom were women, and most of whom were people of color), as well as DEI training, a new chief diversity officer, new independent advisors and mentors, an NAACP partnership, new gifts, travel and conflict of interest policies and other bylaws, among other reforms.

The HFPA has been in reform mode since spring 2021, when the Los Angeles Times detailed new allegations of questionable financial practices inside the small, insular organization, as well as a modest record of diversity and representation (including a complete lack of black members). . The group responded by issuing a framework for reform that included measures to increase the number of people of color in its ranks. The organization had already placed new restrictions on the gifts members could receive and pay for work on their committees.

Nonetheless, those allegations of questionable practices and a lack of diverse membership prompted NBC to announce that it would not air the Golden Globes in 2022.

In May 2021, the HFPA announced a timeline that would completely transform the organization by creating the “Five Pillars of Change: Accountability, Membership, Inclusion, Good Governance/Ethics, and Transparency”.

This January, without NBC as a broadcast partner, the HFPA went ahead with the 2022 Golden Globes — in a private ceremony at the Beverly Hilton, without any nominees. The 2022 ceremony instead emphasized the philanthropic partners and efforts of the Golden Globes.

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