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Immediately, Penske Media Eldridge (PME) introduced its acquisition of Dick Clark Productions (dcp), the reside occasions and different media producer, as half of a bigger strategic alliance with Eldridge augmenting its present partnership with Penske Media’s (PMC’s) leisure media manufacturers and SXSW. PME is a PMC subsidiary and three way partnership between Penske Media Company and Eldridge.
dcp is acknowledged globally for its constellation of reside award exhibits and different music leisure applications, together with the Golden Globe Awards, American Music Awards, Academy of Nation Music Awards, Billboard Music Awards, Dick Clark’s New 12 months’s Rockin’ Eve, So You Assume You Can Dance, in partnership with 19 Leisure, and the Streamy Awards. This deal marks the continued growth and funding in Penske Media Eldridge’s strong reside occasion portfolio which incorporates SXSW, Life is Stunning, ATX TV pageant and LA3C.
“I’m thrilled to broaden our partnership with Eldridge and Todd,” stated CEO and Founding father of Penske Media, Jay Penske. “I’ve lengthy admired dcp’s portfolio of iconic and outstanding reside leisure manufacturers and sit up for rising and evolving dcp’s footprint and legacy for future audiences throughout all platforms.”
“At Eldridge, we search to develop companies that stand the check of time,” stated Todd Boehly, Chairman and CEO of Eldridge. “Our choice to construct upon our partnership with Penske Media, with whom we have already got a deep alliance round media and publishing, is in service to that objective – so dcp might proceed to flourish for a lot of many years to come back.”
Based in 1957, dcp owns and produces among the most enduring and prestigious awards exhibits, TV specials and IP archive libraries within the leisure business worldwide. Penske Media Eldridge will assume full management of dcp’s operations within the coming weeks. As a part of the deal, Adam Stotsky might be stepping down as President after a interval of transition.
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