HFPA Sues Penske Media for $150 Million, Claims Golden Globes Were Stolen in a “Corrupt Scheme”

The Hollywood Foreign Press Association filed an antitrust lawsuit Tuesday in federal court in Los Angeles against Penske Media Corporation, accusing the company of seizing control of the Golden Globe Awards through what the complaint calls a “sham process tainted by fraud.” The suit alleges PMC founder Jay Penske colluded with holding company Eldridge Industries and its CEO, Todd Boehly, to fuel a media campaign over the HFPA’s lack of diversity that triggered an industry-wide boycott, devaluing the show and pressuring the HFPA into a 2023 sale [1, 2]. The complaint claims members were promised lifetime voting rights and lifetime tickets to the ceremony, but that Penske later limited voting power to members who accepted direct employment with the Penske-controlled trust, and alleges the deal’s terms were altered after closing to funnel a $27.5 million gift — all of the 2023 Golden Globes’ profits — to Eldridge [3]. The HFPA is seeking at least $150 million in damages on claims of monopolization, unjust enrichment and fraudulent misrepresentation, along with a court order unwinding the acquisition entirely [3, 4]. Penske Media responded that the lawsuit “continues the absurdity and irrationality that the industry has come to expect from the defunct organization formerly known as the HFPA,” adding that the deal “closed more than three years ago and received all required approvals” [3].

Why It Sucks:

HFPA Members

• Lifetime promises evaporated overnight. The suit claims members were guaranteed lifetime voting rights and lifetime tickets to the ceremony, but Penske extended voting power only to those who signed on as direct employees of the Penske-controlled trust [3].
• A boycott they say was manufactured against them. The complaint alleges Penske and Eldridge fueled the 2021-22 diversity backlash specifically to tank the show’s value and force a distressed sale [1, 2].
• Profits allegedly siphoned after the ink dried. HFPA claims the deal’s terms were changed post-closing to send a $27.5 million gift — every dollar of 2023 Golden Globes profit — straight to Eldridge [3].
• Nothing short of full reversal will do. Beyond $150 million in damages, the HFPA wants a court order unwinding the transaction entirely, undoing three years of Penske ownership [3, 4].

Penske Media Corporation

• Calls the lawsuit recycled absurdity. A company representative dismissed the suit as continuing “the absurdity and irrationality that the industry has come to expect from the defunct organization formerly known as the HFPA” [3].
• The deal closed and cleared review years ago. Penske insists the transaction “closed more than three years ago and received all required approvals,” calling any claim that it remains reversible “unequivocally false” [3].
• They rebuilt a show nobody wanted to air. After NBC dropped the telecast in 2022 amid the diversity controversy, the current ownership rebuilt the ceremony into a functioning broadcast with a new home on CBS [2, 3].
• Unwinding the deal would blow up a stable franchise. Three years of investment, rebranding and a new network deal hang in the balance if a court actually grants the HFPA’s requested reversal [2].

Awards-Season Industry (Studios, Publicists & Broadcast Partners)

• Just when the show found stability, chaos returns. The Globes had only recently rebuilt credibility with a new CBS broadcast deal after the 2022 boycott; a $150 million fraud fight reopens the wound right as campaign season ramps up [2, 3].
• Ownership under a cloud complicates campaigning. Studios and awards strategists plan multimillion-dollar For Your Consideration pushes around the Globes calendar, and a lawsuit seeking to unwind the ownership structure injects uncertainty into a fixed campaign timeline [4].
• Monopoly claims could ripple beyond one trophy. The suit frames the acquisition as part of a broader scheme to control Hollywood’s awards economy, raising questions for other honors bodies about consolidation under a single media company [1].

Sources & Citations:

[1] The Hollywood Reporter: Penske Media Sued by Hollywood Foreign Press Association Over Golden Globes Buy
[2] Variety: Hollywood Foreign Press Association Sues Penske Media Corporation Over Golden Globes Purchase
[3] TheWrap: HFPA Sues Jay Penske and Penske Media, Alleges Entertainment Market Monopoly and Scheme to Seize Golden Globes
[4] AP via ABC News: Former Golden Globes Owners Sue Penske Media Alleging Fraud in Acquisition of Show