Golden Globes becomes for-profit after handover

Hollywood Foreign Press Association approves bid to spin off the Golden Globes into a new, for-profit entity controlled by US billionaire Todd Boehly

The Hollywood Foreign Press Association said it is a"step forward to transform ourselves and adapt to this increasingly competitive economic landscape for both award shows and the journalism marketplace."

Composed of around 100 entertainment writers with links to foreign publications, the Hollywood Foreign Press Association has been plagued by allegations of corruption, racism and amateurism. "This is a historic moment for the HFPA and the Golden Globes," HFPA President Helen Hoehne said in a statement on Thursday.

Meanwhile, Boehly's Eldridge Industries will create a new company "empowered to oversee the professionalisation and modernisation of the Golden Globe Awards."

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