Penske Media Eldridge has acquired Dick Clark Productions, the company that produces the “Golden Globe Awards,” “American Music Awards,” “Dick Clark’s New Year’s Rockin’ Eve With Ryan Seacrest,” among other programs.
“I am thrilled to expand our partnership with Eldridge and Todd [Boehly],” said CEO and founder of Penske Media, Jay Penske, in a statement Wednesday. “I have long admired DCP’s portfolio of iconic and prominent live entertainment brands and look forward to growing and evolving DCP’s footprint and legacy for future audiences across all platforms.”
The dollar amount of the deal wasn’t disclosed. Penske Media Eldridge will assume full control of DCP’s operations over the coming weeks and Adam Stotsky will be stepping down as President after a period of transition.
Penske Media Eldridge owns Variety, Rolling Stone, The Hollywood Reporter, Billboard, and Deadline, among other digital publications and events such as SXSW and the ATX Television
“At Eldridge, we seek to grow businesses that stand the test of time,” said Boehly, chairman and CEO of Eldridge. “Our decision to build upon our partnership with Penske Media, with whom we already have a deep alliance around media and publishing, is in service to that goal — so DCP may continue to flourish for many decades to come.”
An earlier version of this story borrowed extensively from Variety’s article on the same news. TheWrap regrets the error.
