Penske Media Eldridge Acquires Dick Clark Productions in Major Deal

In a major expansion, Penske Media Eldridge has acquired Dick Clark Productions.

The producer is know for live events and popular awards show programs including the Golden Globe AwardsAmerican Music Awards, Academy of Country Music Awards, Billboard Music Awards, Dick Clark’s New Year’s Rockin’ Eve and So You Think You Can Dance.

The deal marks the continued expansion and investment in Penske Media Eldridge’s live-event portfolio, which includes SXSW, Life is Beautiful, ATX TV festival and LA3C.  

DCP was briefly known as MRC Live and Alternative before it reverted to the Dick Clark Productions title last year.

As part of the acquisition, Penske Media Eldridge will assume full control of Dick Clark Productions’ operations in the coming weeks. In addition, current president Adam Stotsky will be stepping down after a period of transition. He took the position in 2021.

“I am thrilled to expand our partnership with Eldridge and Todd,” said Jay Penske, CEO and founder of Penske Media. “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.”

“At Eldridge, we seek to grow businesses that stand the test of time,” said Todd 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.”

(PME is a PMC subsidiary and joint venture between Penske Media Corporation and Eldridge. PMC is parent to media publications including FN, WWD, Variety, Hollywood Reporter, Rolling Stone, and more brands.)

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