By Kevin McCauley
New York private equity firm Guggenheim Partners announced today that it’s leading a group to buy Dick Clark Productions in a deal worth about $375M.
DCP, which was founded 55 years ago by the late legendary broadcaster, produces the Golden Globe Awards, American Music Awards, New Year’s “Rockin’ Eve” countdown and the “Think You Can Dance” TV shows.
“We look forward to continuing DCP’s production of branded entertainment that has become a part of the American lexicon,” Todd Boehly, GP president said in a statement.
Mandalay Entertainment and Mosaic Media Investment Partners, which is headed by Allen Shapiro, former CEO of DCP and current chairman of TV Guide Network, are GP’s partners in the deal.
RedZone Capital Management, the investment unit of Washington Redskins owner Dan Snyder, purchased DCP in 2007 for $175M.
DCP put itself up for sale in June and reportedly attracted the interest of Bain Capital, Thomas H. Lee Partners and “American Idol” host Ryan Seacrest.
GP made the high-profile purchase of the Los Angeles Dodgers in March, a deal that is fronted by Los Angeles Lakers’ star Magic Johnson.
Brunswick Group represents GP in the DCP transaction, while Hiltzik Strategies works for Mandalay and ID PR handles Mosaic. |