Dick Clark Productions Sold to GuggenheimTuesday, September 4, 2012
Dick Clark Productions, which produces TV programs including "New Year's Rockin' Eve" and the Golden Globe Awards, is being sold to a group including investment firm Guggenheim Partners, which was the lead buyer of the Los Angeles Dodgers earlier this year, the Hollywood Reporter and Wall Street Journal report.
Along with Guggenheim, other buyers include Mandalay Entertainment, whose CEO Peter Guber is a film producer and also co-owner of the Golden State Warriors basketball team, and Mosaic Media Investment Partners. Mosaic was part of a consortium that took Dick Clark Productions private in 2002.
Mandalay and Guggenheim Partners were part of the investor group that paid $2 billion for the Los Angeles Dodgers.
Financial terms were not disclosed. Selling Dick Clark Productions is private equity firm RedZone Capital Management, owned by Washington Redskins owner Dan Snyder. RedZone bought the company in 2007 for $175 million.