Dick Clark Productions

Dick Clark Productions, Inc.
Subsidiary
Industry Television Production
Founded Philadelphia, Pennsylvania, USA (1957)
Founder Dick Clark
Headquarters Santa Monica, California, USA
Key people
 Allen Shapiro (CEO)
Peter Guber (Chairman)
Wang Jianlin (President)
Owner Dalian Wanda Group
Website www.dickclark.com

Dick Clark Productions, Inc. (stylized as dick clark productions by the company, and often abbreviated dcp) is an American entertainment production company founded by entertainer Dick Clark. Since its inception in 1957, the studio has produced a number of television shows, specials and much more, such as American Bandstand, The Dick Clark Show, Where The Action Is, Dick Clark's New Year's Rockin' Eve, American Music Awards (dcp's first awards show), Dick Clark's LIVE Wednesday, Bloopers, Camp Midnite, The Challengers, Beyond Belief: Fact or Fiction, Greed, American Dreams and So You Think You Can Dance? (co-produced with 19 Entertainment).

The company previously had a longstanding relationship with the Academy of Country Music Awards, with it producing the American Country Countdown Awards beginning in 2014.[1] It is unclear if the studio's relationship with the ACM will continue. However, it is confirmed that it will be producing the 50th ACM Awards in 2015.[2]

History

The Dick Clark radio show began syndication in the late 1950s as part of MARS Broadcasting.[3] Dick Clark Productions went public on NASDAQ in 1986.[4] It was taken private in 2002 by an investment group that included Mosaic Media Group and Caisse de dépôt et placement du Québec.[5] Mandalay Entertainment bought CDP's stake in 2004.[6] On June 19, 2007, Dick Clark Productions was sold to Daniel Snyder, Washington Redskins owner and former chairman of Six Flags, for $175 Million.[7] After founder Dick Clark's death on April 18, 2012,[8] Snyder commented that he was proud when he purchased Dick Clark Productions, adding that Clark was "in every sense of the word, a giant." Until 2012, Dick Clark Productions was majority owned by Red Zone Capital Management, a Daniel Snyder-controlled private equity firm, with a 40 percent stake held by Six Flags.[9] The week of June 13, 2012, Red Zone confirmed a possible sale of D.C.P., and that investment bank Raine Group had been tapped by D.C.P. to determine possible suitors for the company.[10] Rumored suitors include CORE Media Group, whose 19 Entertainment produces So You Think You Can Dance with D.C.P., and Ryan Seacrest Productions, whose namesake founder worked with and was mentored by Dick Clark.[9][11]

On September 4, 2012, Red Zone Capital Management reached an agreement to sell Dick Clark Productions to a group partnership headed by Guggenheim Partners, Mandalay Entertainment, and Mosaic Media Investment Partners for approximately $350 million.[12] In December 2012, reports by several baseball insiders indicated that the Los Angeles Dodgers Major League Baseball team (also owned by Guggenheim Partners) were in talks with Dick Clark Productions to potentially form a regional sports network for the team once its contract with Fox Sports West concluded.[13] The Dodgers instead partnered with Time Warner Cable to launch Time Warner Cable SportsNet LA.[14] On December 17, 2015, in response to losses across Guggenheim Partners, the company announced that it would spin out its media properties, including Dick Clark Productions, to a group led by its former president Todd Boehly. Variety reported that DCP CEO Allen Shapiro was "likely to be a key player in the spinoff, given his experience in running entertainment firms".[15][16][17]

In September 2016, it was reported that the Wanda Group (which owns AMC Theaters and Legendary Entertainment) was in talks to acquire Dick Clark Productions.[18] This was confirmed on November 4, 2016, when Wanda Group announced the purchase for $1 billion.[19]

The origins of the name and its styling

The name and lower-case stylization of Dick Clark Productions dates back to, at latest, 1964, when Dick Clark's public relations manager, Henry Rogers of Rogers & Cowan, suggested naming his production company after himself, so he can be more visible following American Bandstand's move to Hollywood. Later, Clark rented a building on the Sunset Strip, in an area among visible, legendary clubs and landmarks. As Clark recounted in his 1976 book, Rock, Roll and Remember: "I hung up a very modest sign in lowercase print — dick clark productions — and started producing."[20]

References

  1. ↑ Cumulus, Fox, Dick Clark Productions To Debut ‘American Country Countdown Awards’
  2. ↑ ACADEMY OF COUNTRY MUSIC CELEBRATES ACM AWARDS UPCOMING 50th ANNIVERSARY WITH THIS IS COUNTRY: A BACKSTAGE PASS TO THE ACADEMY OF COUNTRY MUSIC AWARDS
  3. ↑ Billboard - Google Boeken. Books.google.com. Retrieved 2012-12-20.
  4. ↑ "Dick Clark Productions Is Going Public : Company Hopes to Raise $14.5 Million With Stock Offering". LA Times. 1986-11-06. Retrieved 2012-12-20.
  5. ↑ Meg James (2000-12-12). "Group Completes Purchase of Dick Clark Productions". LA Times. Retrieved 2012-12-20.
  6. ↑ "Mandalay Teams With Mosaic to Revamp Dick Clark Unit". LA Times. 2004-08-10. Retrieved 2012-12-20.
  7. ↑ Lieberman, David (June 19, 2007). "Dan Snyder buys Dick Clark's TV, music company". USA Today. Retrieved 2009-09-07.
  8. ↑ "Dick Clark, Entertainment Icon Nicknames 'America's Oldest Teenager,' Dies at 82". ABC News. Retrieved 18 April 2012.
  9. 1 2 "Six Flags is motivating possible sale of Dick Clark Productions," from Los Angeles Times, 6/15/2012
  10. ↑ "Dick Clark Productions exploring possible sale," from Los Angeles Times, 6/13/2012
  11. ↑ "Seacrest looking at Dick Clark Productions: sources," from Reuters via Yahoo!, 6/15/2012
  12. ↑ Guggenheim Partners-Led Group Reaches Agreement To Buy Dick Clark Prods., Deadline.com, September 4, 2012.
  13. ↑ Ozanian, Mark. "Dodgers Exploring TV Deal With Dick Clark Productions". Forbes. Retrieved 17 December 2012.
  14. ↑ Flint, Joe (July 17, 2014). "Standoff over Dodgers games could be defining moment in sports TV". Los Angeles Times.
  15. ↑ "Guggenheim Prepares To Sell Hollywood Reporter, Dick Clark Productions To Exec". Deadline.com. Retrieved 18 December 2015.
  16. ↑ "Guggenheim Media Spins Off Money-Losing Hollywood Reporter, Billboard to Company President Todd Boehly (Exclusive)". The Wrap. Retrieved 18 December 2015.
  17. ↑ "Hollywood Reporter Parent Company Spins Off Media Assets to Executive". The Hollywood Reporter. Retrieved 3 January 2016.
  18. ↑ "Wanda Group In Talks To Add Dick Clark Productions To Global Media Armada". Deadline.com. Retrieved 27 September 2016.
  19. ↑ News, Bloomberg (2016-11-04). "Billionaire Wang Agrees to Buy Dick Clark Productions for $1 Billion". Bloomberg.com. Retrieved 2016-11-04.
  20. ↑ Clark, Dick; Robinson, Richard (1976). Rock, Roll and Remember. New York: Thomas Y. Crowell Company. p. 253.

External links

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