Entertainment

Penske Media Eldridge acquires Dick Clark Productions – The Hollywood Reporter

Penske Media Eldridge on Wednesday said it has acquired Dick Clark Productions, a producer of live events and alternative media.

The move is part of a larger strategic alliance with Eldridge that strengthens existing partnerships with Penske Media Corporation’s entertainment media brands, including Hollywood Reporter, and SXSW.

DCP produces live award shows and other musical entertainment including Golden Globe Awards, American Music Awards, Academy of Country Music Awards, Billboard Music Awards, Dick Clark’s Rockin’ New Year’s Eve, So You Think You Can Dance, partnership with 19 Entertainment and Streamy Awards.

The deal continues Penske Media Eldridge’s expansion and investment in live events, with a portfolio that includes SXSW, Life Is Beautiful, ATX and LA3C television festivals.

“I am delighted to expand our partnership with Eldridge and Todd,” said Jay Penske, CEO and Founder of Penske Media. “I have long admired DCP’s portfolio of outstanding 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.”

Eldridge President and CEO Todd Boehly added: “At Eldridge, we seek to develop businesses that will stand the test of time. Our decision to forge our partnership with Penske Media, with which we have a deep alliance in media and publishing, was to serve that goal — so DCP can continue for decades to come.”

Penske Media Eldridge will take full control of DCP operations in the coming weeks. As part of the deal, Adam Stotsky will step down as chairman after a transition period.

PME is a subsidiary of PMC and a joint venture between Penske Media Corporation and Eldridge.

Last year, Eldridge bought the Hollywood Foreign Press Association, which organizes the Golden Globes, and turned it into a for-profit organization.




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