Golden Globes Group Seeks to End Nonprofit Status Under CEO Todd Boehly (Exclusive)

WAXWORD

The Hollywood Foreign Press Association proposal has alarmed reform-minded members of the group and was discouraged as “unjustifiable” by a lawyer

Todd Boehly, the hedge-fund billionaire and interim CEO of the Hollywood Foreign Press Association, is seeking to merge the nonprofit organization behind the Golden Globe Awards with his for-profit company MRC Entertainment, which produces the annual awards show, TheWrap has learned. 

The proposal has alarmed reform-minded members of the group and was discouraged as “unjustifiable” by a lawyer the HFPA consulted in September, according to an email sent to the full membership and obtained by TheWrap. The proposed move, which would shield the HFPA’s finances from public scrutiny, comes as the embattled organization has been working to win back favor in Hollywood amid outcry over its historic lack of diversity and long-time self-dealing by members.

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Sharon Waxman

Sharon Waxman, is the founder, CEO and Editor in Chief of TheWrap. She is an award-winning journalist and best-selling author, and was a Hollywood correspondent for The New York Times. Twitter: @sharonwaxman