Dick Clark Productions

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Dick Clark Productions, Inc.
Type Private
Industry Television Production
Founded Philadelphia, Pennsylvania, USA (1957)
Founder(s) Dick Clark
Headquarters Santa Monica, California, USA
Key people Allen Shapiro, CEO
Peter Guber, Chairman
Owner(s) Guggenheim Partners, Mandalay Entertainment, Mosaic Media Investment Partners and others
Website www.dickclarkproductions.com

Dick Clark Productions, Inc. (stylized as dick clark productions by the company, and often abbreviated dc or, in some media reports, DCP[1]) is an entertainment production company founded by entertainer Dick Clark. Since its inception in 1957, the company has produced a number of shows, specials and movies.

History[edit]

The Dick Clark radio show began syndication in the late 50s as part of MARS BROADCASTING, INC.[2] Such programs from classic to contemporary include American Bandstand, Where the Action Is, The Dick Clark Show, TV Bloopers & Practical Jokes, Dick Clark's LIVE Wednesday, Camp Midnite, Beyond Belief: Fact or Fiction, So You Think You Can Dance, American Dreams (which includes classic footage from American Bandstand), The Weird Al Show, Shaq Vs. and Greed. Its work also includes such specials as the American Music Awards (dc's first awards show), the Academy of Country Music Awards, the Golden Globe Awards and Dick Clark's New Year's Rockin' Eve.

Dick Clark Productions went public on NASDAQ in 1986.[3] It was taken private in 2002 by an investment group that included Mosaic Media Group and Caisse de dépôt et placement du Québec.[4] Mandalay Entertainment bought CDP's stake in 2004.[5]

On June 19, 2007, Dick Clark Productions was sold to Daniel Snyder, Washington Redskins owner and former chairman of Six Flags, for $175 Million.[6] After founder Dick Clark's death on April 18, 2012,[7] 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% stake held by Six Flags.[8] The week of June 13, 2012, Red Zone confirmed a possible sale of dc, and that investment bank Raine Group had been tapped by dc to determine possible suitors for the company.[9] Rumored suitors include CORE Media Group, whose 19 Entertainment produces So You Think You Can Dance with dc, and Ryan Seacrest Productions, whose namesake founder worked with and was mentored by Dick Clark.[8][10]

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 dollars.[11] 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 current contract with Fox Sports West concludes.[12]

The origins of the name and its styling[edit]

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."[13]

References[edit]

  1. ^ Note that it is never referred to as dcp, the common abbreviation for Don Cornelius Productions.
  2. ^ Billboard - Google Boeken. Books.google.com. Retrieved 2012-12-20. 
  3. ^ "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. 
  4. ^ Meg James (2000-12-12). "Group Completes Purchase of Dick Clark Productions". LA Times. Retrieved 2012-12-20. 
  5. ^ "Mandalay Teams With Mosaic to Revamp Dick Clark Unit". LA Times. 2004-08-10. Retrieved 2012-12-20. 
  6. ^ Lieberman, David (June 19, 2007). "Dan Snyder buys Dick Clark's TV, music company". USA Today. Retrieved 2009-09-07. 
  7. ^ "Dick Clark, Entertainment Icon Nicknames 'America's Oldest Teenager,' Dies at 82". ABC News. Retrieved 18 April 2012. 
  8. ^ a b "Six Flags is motivating possible sale of Dick Clark Productions," from Los Angeles Times, 6/15/2012
  9. ^ "Dick Clark Productions exploring possible sale," from Los Angeles Times, 6/13/2012
  10. ^ "Seacrest looking at Dick Clark Productions: sources," from Reuters via Yahoo!, 6/15/2012
  11. ^ Guggenheim Partners-Led Group Reaches Agreement To Buy Dick Clark Prods., Deadline.com, September 4, 2012.
  12. ^ Ozanian, Mark. "Dodgers Exploring TV Deal With Dick Clark Productions". Forbes. Retrieved 17 December 2012. 
  13. ^ Clark, Dick; Robinson, Richard (1976). Rock, Roll and Remember. New York: Thomas Y. Crowell Company. p. 253. 

External links[edit]