Ryan Seacrest Reportedly Drops Out Of The Bidding For Dick Clark Productions
August 31, 2012 at 8:32 AM (PT)
In JUNE (NET NEWS 6/18), ALL ACCESS reported that CLEAR CHANNEL/PREMIERE syndicated superstar RYAN SEACREST was considering a bid to buy DICK CLARK PRODUCTIONS, the company founded by the late TV icon and SEACREST's mentor. Now, THE WALL STREET JOURNAL reports SEACREST and his equity partners THOMAS H LEE PARTNERS and BAIN CAPITAL have decided to drop out of the running to buy the company.
Instead, "GUGGENHEIM PARTNERS has emerged as a leading bidder for DICK CLARK PRODUCTIONS as the auction nears its conclusion," people familiar with the matter tell THE JOURNAL.
The report notes there is still one other bidder for DCP, as the current talks with GUGGENHEIM "are not exclusive."