The deal brings the largest owner and producer of live television entertainment to the parent company of rolling stone in the lap
Penske Media Eldridge acquired Dick Clark Productions – known for programming the Golden Globe Awards, American Music Awards and other major live-streamed awards shows. The deal will bring the largest owner and producer of live television entertainment into the fold of the parent company of rolling stone, The variety, Billboardand other leading media brands.
It expands Penske Media Eldridge’s live event offerings, which include SXSW, Life is Beautiful, ATX TV festival and LA3C. Financial terms of the agreement were not disclosed.
“I am thrilled to extend our partnership with Eldridge and Todd,” Penske Media CEO and Founder Jay Penske said in a statement. “I have long admired dcp’s portfolio of iconic and leading live entertainment brands and look forward to seeing dcp’s footprint and legacy grow and evolve for future audiences across all platforms.
“At Eldridge, we seek to build businesses that stand the test of time,” said Todd Boehly, president and CEO of Eldridge, in a statement. “Our decision to strengthen our partnership with Penske Media, with whom we already have a deep alliance around media and publishing, serves this purpose – so dcp can continue to thrive for many decades to come.”
Dick Clark Productions, most recently owned by Eldridge Industries, is the world’s largest producer and owner of live event entertainment television, which includes the Academy of Country Music Awards, Billboard Music Awards and Dick Clark’s New Year’s Rockin’ Eve With Ryan. Seacrest.
DCP was founded by the late Dick Clark in 1957. The long American bandstand host died in 2012 at 82 years old.