Procter & Gamble has sold its People’s Choice Awards show to E! Entertainment Television for an estimated US$10 million, according to a report published by AdNews.

“While we are proud of the heritage the PCAs bring, we are no longer focusing on producing entertainment as one of our core competencies,” P&G spokesperson Victoria Schooler told the Cincinnati Business Courier. “P&G is focusing on businesses where we can add unique value. The PCAs provide fans the opportunity to have their voices heard and we are delighted to have found the PCAs a home where it can continue to fulfil its mission.”

NBC-owned E! is said to have big plans for the format, with NBCUniversal Chairman Bonnie Hammer revealing in a statement that the network intends to take the program to a ‘whole new level’.