Billionaire Todd Boehly, owner of Eldridge Industries, has taken over the American Golden Globe and intends to completely dissolve the 80-year-old organization Hollywood Foreign Press Association (HFPA), which has previously owned and organized the film awards. The philanthropic activities of this controversial organization (which has faced accusations of racism, misogyny, bias, etc. in recent years) will be transferred to a new entity, the Golden Globes Foundation, and Boehly plans to turn it into a commercial business. In this business entity, whose names are still unknown, members (mostly freelance journalists) of the HFPA will work, and their new task will be to focus on branding and developing the Golden Globe business. This well-known entertainment brand was acquired by Eldridge Industries along with Dick Clark Productions (part of Penske Media), which is also part of Todd Boehly’s rich portfolio.
Versatile Investor
Indeed, in 2020, Boehly merged his company MRC with Penske Media, which owns media brands such as Billboard, The Hollywood Reporter, Vibe, Variety, and Rolling Stone. Eldridge Industries is also involved in insurance, leasing, investment banking, and the billionaire invests in the digital industry, entertainment industry, and sports. Boehly owns 20 percent of the Los Angeles Dodgers and a stake in the Los Angeles Sparks, and he is also the owner of the fantasy sports company DraftKings and the esports organization Cloud9. However, of all his business ventures, the media has most closely followed his acquisition of the Chelsea football club. Back in 2019, he offered then-owner, Russian tycoon Roman Abramovich, three billion dollars, but he was unwilling to part with ownership of the English club. The situation changed significantly shortly after the invasion of Ukraine by Russia, and Abramovich eventually agreed to sell, with Boehly becoming the owner and chairman of Chelsea.
