The Hollywood Foreign Press Association announced Monday it plans to end its membership organization. Its Golden Globe Awards will continue under Dick Clark Productions.

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The next Golden Globes will air Jan. 7, according to the announcement. After "the winddown of the HFPA and its membership," the 310 members will remain voters in the Golden Globe Awards, the HFPA told UPI.

The press release on the Golden Globes website indicated that DCP and Eldridge Industries, longtime partners of the HFPA for the Globes, have acquired from HFPA "all the Golden Globes' assets, rights and properties."

HFPA President Helen Hoehne stated that the membership voted to approve the transition. DCP intends to "pursue commercial opportunities for the Golden Globes across the globe" in addition to the annual awards show.

DCP and Eldridge will also create the Golden Globes Foundation for charity endeavors.

The HFPA consists of international journalists reporting on the entertainment industry. The HFPA received criticism recently for its lack of diversity in membership.

In response, the HPA accepted new members and hired officers to improve diversity and inclusion.