Guggenheim Partners, Mandalay Entertainment, Mosaic Media Buy Dick Clark Productions
September 4, 2012 at 6:51 AM (PT)
GUGGENHEIM PARTNERS, PETER GUBER's MANDALAY ENTERTAINMENT and MOSAIC MEDIA INVESTMENT PARTNERS have announced the purchase of DICK CLARK PRODUCTIONS for an undisclosed price. DCP, founded by the late TV and radio personality, produces television programming including the AMERICAN MUSIC AWARDS, the ACADEMY OF COUNTRY MUSIC AWARDS, "NEW YEAR'S ROCKIN' EVE," "SO YOU THINK YOU CAN DANCE" and the GOLDEN GLOBE AWARDS. RYAN SEACREST had been among those reportedly interested in the company but SEACREST and his partners recently bowed out of the bidding.
GUGGENHEIM Pres. TODD BOEHLY 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."
GUBER 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."
MOSAIC Managing Partner ALLEN SHAPIRO 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."
DICK CLARK PRODUCTIONS CEO MARK SHAPIRO added, ”We're thrilled about the transaction with GUGGENHEIM PARTNERS. The storied assets and the creative team of DICK CLARK PRODUCTIONS are a perfect fit with GUGGENHEIM's dynamic leadership in the entertainment space and their powerful breadth of unique and diversified content, which is rapidly expanding. DICK CLARK and his legacy will surely be in good hands.”