NY Times: Ryan Seacrest Looking To Buy Dick Clark Productions

Buying His Mentor's Company?

CLEAR CHANNEL/PREMIERE syndicated superstar RYAN SEACREST "is considering a bid to buy DICK CLARK PRODUCTIONS, the company founded by the late TV icon and SEACREST's mentor," reports REUTERS. "RYAN SEACREST MEDIA is among the potential bidders who have requested information from RAINE GROUP, which was retained by DICK CLARK PRODUCTIONS to run a possible sale."

In JANUARY (NET NEWS 1/31), ALL ACCESS reported RYAN SEACREST MEDIA and CLEAR CHANNEL, together with CLEAR CHANNEL's majority investors THOMAS H. LEE PARTNERS and BAIN CAPITAL, have entered into two new investment agreements "designed to drive business growth across multiple media platforms." Funds sponsored by THL and BAIN CAPITAL have together committed up to $300 million to working with RSM to "identify, acquire and develop innovative media companies, media content and other media properties that can be leveraged to support a range of media enterprises."

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