Houlihan Lokey Advises Hollywood Foreign Press Association

Houlihan Lokey is pleased to announce that the Hollywood Foreign Press Association, host of the annual Golden Globe Awards show, has sold its assets, rights, and properties to Eldridge Industries. The transaction closed on June 12, 2023.

Founded in 1943, the Hollywood Foreign Press Association (HFPA) is a Los Angeles-based nonprofit organization consisting of a group of approximately 100 journalists and photographers who report on the entertainment industry. Each year, the HFPA conducts the Golden Globe Awards honoring the year’s best actors and films, among many other distinctions. The proceeds of the Golden Globe Awards have allowed the HFPA to donate more than $50 million to entertainment-related charities and fund scholarships for over 2,000 students.

Eldridge Industries invests in businesses across the insurance, asset management, technology, mobility, sports and gaming, media and music, real estate, and consumer landscapes.

The Golden Globes Awards show will be controlled and continue to be produced by Dick Clark Productions (DCP). DCP is the world’s largest producer and proprietor of live entertainment programming. In addition to the Golden Globes, DCP currently produces the American Music Awards, the Billboard Music Awards, So You Think You Can Dance, and many other major live events. DCP is jointly owned by Eldridge Industries and Penske Media Corporation.

Eldridge Industries and DCP intend to pursue additional commercial opportunities for the Golden Globes and expand its reach.

The proceeds from the transaction will be transferred to a newly formed Golden Globe Foundation, which will continue the HFPA’s charitable mission.

Houlihan Lokey served as the exclusive financial advisor to the HFPA. This deal highlights Houlihan Lokey’s continued success as a leading advisor in the media and technology space.

RELATED: Digital Media and Entertainment, Technology