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Penske Media Eldridge has acquired Dick Clark Productions in a major corporate expansion.
PME, the new live-content brand of Penske Media Corporation, has announced that unscripted content producer DCP is now part of IndieWire’s parent company, which also owns Variety, Rolling Stone, Billboard, WWD, and more top brands. Under the new deal, PME owns the Golden Globes and Dick Clark’s Rockin’ New Year’s Eve broadcast, as well as the American Music Awards and “So You Think You Can Dance” FOX reality series.
“I am thrilled to expand our partnership with Eldridge and Todd,” Jay Penske, CEO and Founder of Penske Media, said. “I have long admired DCP’s portfolio of iconic and prominent live entertainment brands and look forward to growing and evolving DCP’s footprint and legacy for future audiences across all platforms.”
Todd Boehly, Chairman and CEO of Eldridge Industries, added, “At Eldridge, we seek to grow businesses that stand the test of time. Our decision to build upon our partnership with Penske Media, with whom we already have a deep alliance around media and publishing, is in service to that goal – so DCP may continue to flourish for many decades to come.”
Financial details of the deal have not been publicly disclosed.
Dick Clark Productions was taken over by Eldridge Industries from MRC in August 2022 through a media asset split, via The Hollywood Reporter. Former NBCUniversal executive Adam Stotsky will exit as president of DCP upon the new PME deal. DCP, which was previously known as MRC Live and Alternative, was founded in 1957 by its TV presenter founder Dick Clark, who died in 2012.
Eldridge Industries investment firm is run by Boehly, who is the president and CEO of the Hollywood Foreign Press Association behind the Golden Globes awards ceremony. The Golden Globes broadcast was recently reinstated under a one-year deal with NBC following the revelation that the HFPA lacked diverse voters. New leader Boehly has since made the organization a for-profit company.
Eldridge Industries also owns stakes in entertainment companies like A24, Fullwell Productions, and Film Expo Group. The company is additionally part owner of the Los Angeles Dodgers franchise and English Premier League club Chelsea.