The Hollywood Foreign Press Association announced a new strategic change for the Golden Globes.
The HFPA approved a proposal put forth by Eldridge Industries to create a new private entity to manage the Golden Globes and its assets. The HFPA will maintain its philanthropic programs as a separate non-profit entity.
Eldridge Industries, a global investment firm for various industries, put forth the proposal, which involves the creation of a new private company that would acquire all rights for Golden Globes intellectual property. An executive team will be appointed to lead the new organization.
Helen Hoehne, president of the HFPA, stated, “This is a historic moment for the HFPA and the Golden Globes. 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.”
Hoehne continued, “Our Special Committee and the 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.”
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