Eldridge 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 pro…
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.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.
Also according to the HFPA, “Boehly was not part of the review, recommendation, or approval process. In recent months, the HFPA’s financial advisor, Houlihan Lokey, yielded several submitted proposals from a number of companies and investment groups. Each proposal was reviewed and analyzed by the HFPA’s Special Committee, alongside its legal advisor, Morgan, Lewis & Bockius LLP.”
The HFPA’s move comes after more than a year of turmoil for the nearly 80-year-old press organization that has thrived over the past 25 years on lucrative fees from NBCUniversal and other partners for the Golden Globe Awards.
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