Penske Media Eldridge (PME) introduced the acquisition of Dick Clark Productions (dcp).

Dick Clark Productions is the producer of reside award reveals and different musical leisure applications such because the Golden Globe Awards, American Music Awards, Academy of Nation Music Awards, Billboard music awards, Dick Clark’s New Yr’s Eve So You Suppose You Can Dance (in partnership with 19 Leisure) and the Streamy Awards.

PME is a subsidiary of PMC and a three way partnership between Penske Media Company and Eldridge.

The brand new settlement marks the continued enlargement and funding in Penske Media Eldridge’s reside occasions portfolio, which incorporates SXSW, Life is Lovely, ATX TV competition and LA3C.

“I’m thrilled to develop our partnership with Eldridge and Todd,” stated Jay Penske, CEO and Founding father of Penske Media. “I’ve lengthy admired dcp’s portfolio of iconic and main reside leisure manufacturers and look ahead to seeing dcp’s footprint and legacy develop and evolve for future audiences throughout all platforms.

“At Eldridge, we search to construct companies that stand the check of time,” stated Todd Boehly, President and CEO of Eldridge. “Our resolution to strengthen our partnership with Penske Media, with whom we have already got a deep alliance round media and publishing, serves this objective – so dcp can proceed to thrive for a lot of a long time to return.”

Penske Media Eldridge will take full management of dcp’s operations within the coming weeks. As a part of the settlement, Adam Stotsky will step down as chairman of dcp after a transition interval.

Penske Media Company (PMC) media manufacturers embody Selection, Rolling Stone, The Hollywood Reporter, Billboard, WWD, SHE Media, Robb Report, Deadline, Sportico, BGR, ARTnews, Fairchild Media, Vibe, IndieWire, Grime, Artforum, Gold Derby, Spy.com and Luminate, the info and analytics firm.

PMC is an investor and accomplice in The music trade all over the world.The music trade all over the world