Group Led By Dan Snyder Buys Dick Clark Productions
June 19, 2007 at 6:09 AM (PT)
REDZONE CAPITAL has announced the $175 million acquisition of DICK CLARK PRODUCTIONS. The purchase includes THE AMERICAN MUSIC AWARDS, THE GOLDEN GLOBES, THE ACADEMY OF COUNTRY MUSIC AWARDS, DICK CLARK’S NEW YEAR'S ROCKIN’ EVE and 10,000 hours of contemporary live music performances, including AMERICAN BANDSTAND’s nearly 900 one-hour broadcasts, and a variety of entertainment and comedy specials or series, children’s programming, talk shows, made-for-TV movies, and more.
"DICK CLARK PRODUCTIONS is responsible for some of the most enduring brands in entertainment," said REDZONE Managing Member DANIEL SNYDER. "This was a rare opportunity to acquire a powerhouse portfolio and grow it in new directions."
To that end, REDZONE CAPITAL and DICK CLARK PRODUCTIONS have retained CREATIVE ARTISTS AGENCY (CAA) to facilitate the exploration and development of new creative and business opportunities in the areas of television, licensing, live events, sponsorships, and digital media.
"The DICK CLARK PRODUCTIONS library has a wealth of largely untapped entertainment assets that will lay the foundation for exciting new properties and business opportunities," said CAA partner EMANUEL NUNEZ.
ALLEN SHAPIRO has stepped down as CEO, to be replaced by TERRY BATEMAN, who acknowledged the success that the company achieved over the last several years under SHAPIRO.
DICK CLARK, who founded the company in 1957, said, "DAN SNYDER and his group will bring energy and new direction to a company that has meant so much to me. As we’ve talked I’ve come to learn just how passionate these people are about this business and extending our success. They have my full support."