Take a fresh look at your lifestyle.

- Advertisement -

Penske Media Eldridge acquires Dick Clark Productions

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

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

DCP produces live award shows and other music programs, including the Golden Globe Awards, American Music Awards, Academy of Country Music Awards, Billboard Music Awards, Dick Clark’s New Year’s Rockin’ Eve, so you think you can dance, in association with 19 Entertainment and the Streamy Awards.

This deal continues Penske Media Eldridge’s expansion and investment in live events, with a portfolio that also includes SXSW, Life Is Beautiful, ATX TV festival and LA3C.

“I’m excited 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 iconic and prominent live entertainment brands and look forward to growing and developing DCP’s footprint and legacy for future audiences across all platforms.”

Eldridge Chairman and CEO Todd Boehly added, “At Eldridge, we strive to grow businesses that stand the test of time. Our decision to build on our partnership with Penske Media, with whom we already have a strong media and publishing alliance, serves that purpose – helping DCP continue to thrive for decades to come.”

Penske Media Eldridge will assume full control of DCP’s operations in the coming weeks. As part of the deal, Adam Stotsky will step down as president after a transitional period.

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

Last year, Eldridge took over the Hollywood Foreign Press Association, the organizers of the Golden Globes, and turned it into a for-profit entity.

!function(f, b, e, v, n, t, s) {
if (f.fbq) return;
n = f.fbq = function() {n.callMethod ? n.callMethod.apply(n, arguments) : n.queue.push(arguments);};
if (!f._fbq) f._fbq = n;
n.push = n;
n.loaded = !0;
n.version = ‘2.0’;
n.queue = [];
t = b.createElement(e);
t.async = !0;
t.src = v;
s = b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t, s);
}(window, document, ‘script’, ‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘352999048212581’);
fbq(‘track’, ‘PageView’);

Leave A Reply

Your email address will not be published.