The two media giants have been hosting the event together after the January awards ceremony for the past three years, with last year's gala at the Beverly Hilton.
Not only has TWC been a prominent partner with the streaming service for all things party related, but it's also had its hand in producing a decent amount of Netflix shows and movies, like Marco Polo and Crouching Tiger, Hidden Dragon: The Green Legend.
The news comes after Netflix announced it would be scrubbing TWC's name from the credits in season 4 of Peaky Blinders, which is hitting Netflix Dec. 21.
While fans might be pleased that Netflix is cutting ties with TWC and Weinstein himself, along with House of Cards star Kevin Spacey recently accused of sexual misconduct, some are angry that the streaming service isn't doing the same with The Ranch star Danny Masterson. Masterson was accused of sexually assaulting four women and denies all claims against him.
Some criticized Netflix for only taking action when alleged assaults occur on-set and think the claims are serious enough to be deserving of action by the streaming giant.
One of Masterson's accusers, Christie Carnell Bixler, spoke out against Netflix's decision to move forward with Part 4 of the show, which hits the streaming site next month.
"I was sick when I read Netflix’s statement on continuing with The Ranch and continuing their working relationship with a man who has violently raped and abused so many women," Bixler told the Daily Beast. "Four months after the story broke and the LAPD confirmed a criminal investigation, Netflix ordered another season of The Ranch."