The Hollywood Foreign Press Association (HFPA) has bought off all property and rights for the Golden Globe Awards, following controversy that has hit the ceremony in recent times.

The main US present, which generally kicks off awards season in Hollywood, has been acquired by Dick Clark Productions (DCP) and asset administration firm Eldridge, marking a winding down of the HFPA.

While A-listers returned to the Golden Globes earlier this year, the 2022 occasion was held in private, with no TV broadcast and winners introduced on social media - and lots of selecting to not publicly acknowledge their successes.

The HFPA had vowed to overtake its bylaws and implement modifications addressing ethics and inclusion following controversy over a scarcity of range amongst its members.

Now, it has been introduced that DCP and Eldridge have acquired the entire Golden Globes' property, rights, and properties from the HFPA, with an announcement including saying the transaction would "result in the wind down of the HFPA and its membership".

"The proceeds from the transaction, plus the existing resources of the HFPA, will transition into a newly formed Golden Globe Foundation which will continue the legacy HFPA's history of entertainment-related charitable giving," the assertion mentioned.

The annual Golden Globes ceremony will now be deliberate and produced by DCP and Eldridge.

"We are excited to close on this much anticipated member-approved transaction and transition from a member-led organisation to a commercial enterprise," mentioned HFPA president Helen Hoehne.

DCP chief government Jay Penske added: "As stewards of the Golden Globe Awards, our mission is to proceed creating essentially the most dynamic awards ceremony on stay tv considered internationally.

"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 monetary particulars of the transaction haven't been revealed.

The subsequent Golden Globes ceremony is because of happen on January 7 2024.