The Golden Globes find new home as the Hollywood Foreign Press ends

And the Golden Globes go to … Dick Clark Productions.

The California nonprofit announced Monday that it and asset management company Eldridge acquired all the assets, rights and properties of the Golden Globes from the Hollywood Foreign Press Association.

The financial details of the transaction were not disclosed, but the deal will result in the end of the HFPA and its membership.

Dick Clark Productions, which runs the Billboard Music Awards and Dick Clark’s New Year’s Rockin’ Eve, will now plan, host and produce the annual Golden Globe Awards show. The company has also formed the Golden Globe Foundation, which will continue the HFPA’s legacy of entertainment-related charitable giving.

“As stewards of the Golden Globe Awards, our mission is to continue creating the most dynamic awards ceremony on live television viewed across the world,” said Jay Penske, CEO, chairman and founder of Penske Media and CEO of Dick Clark Productions. “We have a great team in place to grow this iconic brand and captivate new and existing audiences to celebrate the very best in television and motion pictures.”

The dissolvement of the HFPA and the transition of the Golden Globes to Dick Clark Productions comes on the heels of several controversies surrounding the journalist organization. In 2021, NBC refused to air the 2022 annual show due to concerns about the lack of diversity in the group’s ranks. The Golden Globes returned to NBC in 2023.

The fallout began in February 2021, when a Los Angeles Times exposé detailed that none of the 87 members of the group were Black and called into question the credentials of many of the LA-based journalists working for foreign media outlets. Many were found to only contribute sporadically to obscure overseas outlets.

For years, many within the industry and outside it questioned why certain projects and talent received HFPA award nominations and others did not. Often, the Golden Globes nominees differed sharply from those at guild award ceremonies and the Academy Awards.

There were also concerns about the HFPA’s practice of accepting gifts during its voting period after dozens of its members traveled to France to visit Netflix’s “Emily in Paris” set and were put in a five-star, $1,400-a-night hotel on the Paramount Network’s dime. The show subsequently received two Golden Globe nominations.

The next Golden Globe Awards will take place Jan. 7, 2024.

Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.