Guggenheim Partners to Purchase Dick Clark Productions
Guggenheim Partners together with Mandalay Entertainment and Mosaic Media Investment Partners ("the investor group") today announced a definitive agreement to purchase Dick Clark Productions ("dcp" or "the Company") from RedZone Capital Management. The terms of the transaction were not disclosed.
Dick Clark Productions is the leading independent producer of television programming for broadcast networks, cable networks and other distributors. The Company's world-renowned television programming includes the Golden Globe Awards; the American Music Awards; the Academy of Country Music Awards; New Year's Rockin' Eve; and So You Think You Can Dance.
The investor group is comprised of experienced, long-term investors with a deep understanding of the media and entertainment industry and a history of collaboration with each other. Guggenheim Partners, Mandalay Entertainment and Mosaic Media Investment Partners plan to continue dcp's tradition of providing its network partners with devoted and growing audiences across dcp's premier programming.
Todd Boehly, President of Guggenheim Partners, said, "We look forward to continuing dcp's production of branded entertainment that has become a part of the American lexicon. We plan to work closely with the Hollywood Foreign Press Association, the Academy of Country Music and all of the network partners and sponsors to ensure dcp's long-term growth and success."
Peter Guber, Chairman and CEO of Mandalay Entertainment, said, "This is an exciting opportunity to use our resources to build upon dcp's delivery of premiere programming and events that address the surging demand for high-quality, branded event entertainment."
Allen Shapiro, Managing Partner of Mosaic Media Investment Partners, said, "In this evolving world of content and distribution, dcp's 'tent-pole programming' of well-known television events is increasingly sought after. We are committed to providing dcp with the resources to continue growing its business in a way that creates value for sponsors, networks and audiences, and we look forward to energizing fans in new and innovative ways."