Owner of Dick Clark Productions offers new plan for the particular Golden Globes

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Todd Boehly, chairman of Eldridge Industries and the mother or father company of longtime Golden Globes producer Dick Clark Productions, has presented a brand new reform plan to the embattled Hollywood Foreign Press Assn.

In a surprise move, Boehly, who acquired previous discussions with the table, on Wednesday met along with members of the Hollywood International Press Assn. in a Focus meeting to propose a for-profit spinoff company together with Eldridge.

The offer comes just one week before the embattled HFPA is to begin voting on the slate of new bylaws and it is promised “transformational change. ”

Boehly could hardly immediately be reached meant for comment.

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The particular proposal marks another twist for the once powerful HFPA. The organization lost its important perch on NBC, which usually pulled the 2022 broadcast in May following months of turmoil and infighting inside the group. The HFPA has been under escalating pressure to reform following a Times investigation that highlighted allegations of financial and ethical lapses and pointed out that not one from the HFPA’s then-87 members was Black.

Beneath the Eldridge proposal, the new enterprise would be governed by a 15-member board. It would also carry out new criteria and needs for membership into the HFPA. The HFPA would include 50 journalist voters, having a focus on diversity. An individual familiar with many of the details confirmed the proposal.

It is far from known if the deal under consideration would accommodate all of the current 85 members going forward.

The Times earlier reported on the planned meeting with Boehly. Details of the Eldridge-backed plans were first published in the New York Occasions .

Along with Dick Clark Productions, film production company studio MRC and the Hollywood Reporter trade publication are among the private equity firm’s holdings. As is the Beverly Hilton, longtime home of the Globes, providing a powerful financial incentive for Eldridge to become a companion to the organization.

Under its current contract with NBC , Dick Clark Productions earns roughly half of the greater than $60-million annual licensing fee that the network is obligated to pay through 2026; the HFPA earns the other half. The plan would put Dick Clark Productions in the position of not only conserving its slice of the licensing pie for a show having an uncertain future, but potentially gaining an even great talk about of it.

It really is unclear, however , whether or even how quickly the plan might happen. The HFPA’s current bylaws require a two-thirds vote in order to enact change, meaning the notoriously fractious group may likely need a clear majority in order to approve it.

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This kind of arrangement could remove a number of issues the nonprofit company faces over its longtime practice of paying members substantial sums to function on various committees and perform other tasks; some thing tax experts say can challenge its nonprofit status. The Times investigation found how the HFPA paid its associates nearly $2 million in its fiscal year ending in June 2020.

Still other questions remain.

In 03 a contingent of effective Hollywood publicists launched a boycott of the organization. Two months later, Netflix cut ties with the HFPA until more meaningful changes were in place; followed by Amazon, WarnerMedia plus Neon, the indie facility behind the award-winning 2019 movie “Parasite. ”

It remains to be seen if the industry that distanced alone from the HFPA will accept of a rebranded Golden Globes under new management.

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It does however offer a tantalizing prospect: preserving the awards, long an important marketing tool and launch pad for the Oscars, while recasting the long-troubled group behind it.