Sophia Michaels
Penske Media Eldridge has acquired Dick Clark Productions. The deal will bring the largest owner and producer of televised live entertainment into the fold for the parent company of Rolling Stone, Variety, Billboard, and more top-tier media brands.
It expands on Penske Media Eldridge’s live event offerings, which include SXSW, Life is Beautiful, ATX TV festival, and LA3C. The financial terms of the deal have not been disclosed.
“I am thrilled to expand our partnership with Eldridge and Todd,” said CEO and Founder of Penske Media, Jay Penske, in a statement. “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.”
“At Eldridge, we seek to grow businesses that stand the test of time,” said Todd Boehly, Chairman and CEO of Eldridge, in a statement. “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.”
Dick Clark Productions, which was most recently owned by Eldridge Industries, is known for its major televised live entertainment programming, which includes the Academy of Country Music Awards, American Music Awards, Billboard Music Awards, Golden Globe Awards, and Dick Clark’s New Year’s Rockin’ Eve With Ryan Seacrest.
DCP was founded by the late Dick Clark in 1957. The longtime American Bandstand host died in 2012 at age 82.
