Penske Media Eldridge (PME) has announced the acquisition of Dick Clark Productions (dcp).
Dick Clark Productions is a producer of live award shows and other musical entertainment programs such as the Golden Globe Awards, American Music Awards, Academy of Country Music Awards, billboards music awards, Dick Clark’s Rockin’ New Year’s Eve, So You Think You Can Dance (in partnership with 19 Entertainment) and the Streamy Awards.
The new agreement marks a further expansion and investment in Penske Media Eldridge’s live events portfolio, which includes SXSW, Life is Beautiful, ATX and LA3C television festivals.
Penske Media founder and CEO Jay Penske said: “I am delighted to expand our partnership with Eldridge and Todd. “I have long admired dcp’s portfolio of prominent and iconic live entertainment brands, and look forward to growing and developing dcp’s footprint and legacy for future audiences across the globe. all platforms.”
“At Eldridge, we seek to develop businesses that stand the test of time,” said Todd Boehly, President and CEO of Eldridge. “Our decision to forge our partnership with Penske Media, with which we have a deep alliance in media and publishing, is to serve that goal – so dcp can continue to do so. continue to grow for decades to come.”
Penske Media Eldridge will take full control of dcp’s operations in the coming weeks. As part of the deal, Adam Stotsky will step down as dcp Chairman after a transition period.
Penske Media Corporation (PMC) media brands include Variety, Rolling Stone, The Hollywood Reporter, Billboard, WWD, SHE Media, Robb Report, Deadline, Sportico, BGR, ARTnews, Fairchild Media, Vibe, IndieWire, Dirt, Artforum, Gold Derby, Spy.com and Luminate, a data and analytics company.
PMC is an investor and partner in Global Music Business.Global Music Business