Penske Media Eldridge Acquires Dick Clark Productions in Major Expansion

Penske Media Eldridge has acquired Dick Clark Productions in a deal that marks a major expansion for the parent company of Variety, Rolling Stone, Billboard and

other top media brands. Financial details of the deal with Todd Boehly’s Eldridge Industries were not disclosed.More from VarietyHannah Woodard Joins PMC as

Communications ExecutivePMC Acquires Art Publication ArtforumPMC Adds to Festival and Event Holdings With Acquisition of ATX TV “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 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.” Dick Clark Prods. has most recently been owned by Eldridge Industries. DCP has

been through a revolving door of owners and managers over the past decade. Longtime NBCUniversal executive Adam Stotsky was named president of the unit in 2021;

Stotsky will exit the post as part of the sale process.