Penske Media Eldridge Acquires DCP
• Penske Media Eldridge (PME) has acquired dick clark productions (DCP) in a major corporate expansion. As reported by IndieWire, PME, the new live-content brand of Penske Media Corporation, announced that DCP is now part of IndieWire‘s parent company, which also owns Variety, Rolling Stone, Billboard, Deadline, WWD, and more top brands, including SXSW. Under the new deal, PME now owns the Golden Globes and Dick Clark’s New Year’s Rockin’ Eve With Ryan Seacrest, The American Music Awards and FOX’s So You Think You Can Dance.
Eldridge Industries is run by Chairman & CEO Todd Boehly, who is also President & CEO of the Hollywood Foreign Press Association, the organization behind the Golden Globes. “At Eldridge, we seek to grow businesses that stand the test of time,” Boehly said. “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.”
Jay Penske, CEO & Founder of Penske Media, remarked, “I’m thrilled to expand our partnership with Eldridge and Todd. 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.”
Concurrent with PME’s acquisition of DCP, it was announced that former NBCUniversal executive Adam Stotsky will exit as President of Dick Clark Productions, which was founded in 1957 by the legendary Dick Clark, who died in 2012. DCP was taken over by Eldridge Industries from MRC in August 2022 through a media asset split.
