Mandalay Entertainment and Mosaic Media Investment Partners are among the companies backing the purchase
Guggenheim Partners has agreed to purchase Dick Clark Productions, the producer of the Golden Globe awards show, from RedZone Capital Management, the companies said Tuesday.
To snag the television company, Guggenheim is partnering with Mandalay Entertainment and Mosaic Media Investment Partners.
Terms of the deal were not disclosed. RedZone had sought a sales price between $350 million to $400 million, according to an individual with knowledge of the negotiations.
Guggenheim, Mosaic and Mandalay beat out a high-wattage group of suitors to buy Dick Clark Productions. Among the companies circling it were CBS, CORE Media Group, Colony Capital, and Ryan Seacrest Media.
Guggenheim is a co-owner of The Hollywood Reporter and Prometheus Global Media. Led by Peter Guber, Mandalay invests in media and film properties. Mosaic Media is a media investment company overseen by Allen Shapiro, the former chief executive officer of Dick Clark Productions.
In addition to the Globes, Dick Clark Productions produces the American Music Awards and "So You Think You Can Dance." It was purchased by RedZone for $175 million in 2008.
"We look forward to continuing DCP’s production of branded entertainment that has become a part of the American lexicon," Todd Boehly, president of Guggenheim Partners, said in a statement. "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."
The deal is subject to regulatory approval.