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

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

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

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

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

“At Eldridge, we search to develop companies that stand the check of time,” stated Todd Boehly, Chairman and CEO of Eldridge. “Our resolution to construct upon our partnership with Penske Media, with whom we have already got a deep alliance round media and publishing, is in service to that purpose – so dcp could proceed to flourish for a lot of many years to return.”

Penske Media Eldridge will assume full management of dcp’s operations within the coming weeks. As a part of the deal, Adam Stotsky can be stepping down as dcp President after a interval of transition.

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

PMC is an investor and accomplice in Music Enterprise Worldwide.Music Enterprise Worldwide