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MRC (company)

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MRC II Distribution Company L.P.
MRC
FormerlyMedia Rights Capital (2006–2013)
Company typePrivate
IndustryFilm
Television
Founded2006; 18 years ago (2006) (film)[1]
2008; 16 years ago (2008) (television)[1]
FoundersModi Wiczyk
Asif Satchu
Headquarters
Beverly Hills, California
,
U.S.
Area served
Worldwide
Key people
Modi Wiczyk (co-CEO and co-chairman)
Asif Satchu (co-CEO and co-chairman)
Scott Tenley (COO)
OwnerEldridge Industries (minority)
Websitewww.mrcentertainment.com

MRC II Distribution Company L.P., doing business as MRC (formerly Media Rights Capital), is an American film and television studio. Founded by Mordecai (Modi) Wiczyk and Asif Satchu, the company funds and produces film and television programming.

The company's divisions include MRC Film, MRC Non-Fiction, and MRC Television. In 2018, the company merged with Todd Boehly's media assets under Valence Media, with the company as a whole taking on the MRC name in 2020; this included Dick Clark Productions (briefly known as MRC Live & Alternative), audience data firm Luminate (the former Nielsen SoundScan), and the entertainment industry publications Billboard and The Hollywood Reporter. Boehly (through Eldridge Industries) re-acquired most of these assets in August 2022.

The company's most notable productions have included the Netflix series House of Cards and Ozark, and the films Baby Driver, Knives Out, and Ted.

History

Early history

MRC's investors include Guggenheim Partners, AT&T, WPP Group, Goldman Sachs and ABRY Partners.[2][3] On September 4, 2007, it funded top directors, namely Robert Rodriguez, Ricky Gervais, Walter Salles, Ryan Murphy, Richard Kelly, Bennett Miller and Todd Field, which both spent $250 million in film funding.[4] On December 5, 2007, it inked a pact with Warner Bros. Pictures, in which MRC allowed WB to distribute three of the eight pictures over a $250 million feature production funding.[5]

Keith Samples had briefly joined the television division of the studio, which was announced in early 2008.[6] On June 24, 2008, Dawn Parouse, who produced Prison Break, had joined the television division of the studio.[7] On October 22, 2008, Keith Samples had been resigned as president of the Media Rights Capital television division.[8]

In 2008, The CW leased its Sunday-night schedule to MRC beginning in the 2008-09 television season. MRC scheduled the reality show In Harm's Way and the dramas Valentine and Easy Money.[9] In November 2008, after all four shows drew poor viewership, The CW announced that it would withdraw from the agreement.[10] The network returned the Sunday timeslots to its affiliates in the 2009–10 season.[11]

After acquiring rights to produce a U.S. remake of the BBC miniseries House of Cards, MRC would sell the series to the streaming service Netflix in 2011, where it ran for six seasons as one of its first original series.[12][13][14]

On February 1, 2018, Eldridge Industries, a holding company owned by former Guggenheim Partners president Todd Boehly, announced that it would contribute its media assets — including The Hollywood Reporter, Dick Clark Productions, and Billboard, and merge them with MRC into a new company known as Valence Media.[15] In October 2018, MRC formed a joint venture with United Talent Agency known as Civic Center Media, which seeks to back projects involving its members via MRC.[16][17]

2019–2022: Valence Media and PMRC

In December 2019, Valence Media acquired Nielsen Holdings' music data business, with the division being rebranded as MRC Data.[18]

In April 2020, it was reported that Valence Media would rebrand under the MRC name.[19] The rebranding was completed in July 2020.[20]

On September 23, 2020, it was announced that Penske Media Corporation, owner of The Hollywood Reporter's main competitor Variety, would assume operations of the MRC Media & Info publications under a joint venture with MRC known as PMRC. In turn, MRC will form a second joint venture that will develop content tied to PMRC publications.[21]

In September 2021, former E! president Adam Stotsky became the new president of MRC Live & Alternative, replacing the outgoing Amy Thurlow. At this time, Dick Clark Productions was folded into MRC Live & Alternative and discontinued as a brand.[22]

2022–present: Unwinding of the Valence merger

In August 2022, Eldridge agreed with Wiczyk and Satchu to divide MRC's assets, effectively undoing the 2018 Valence Media merger. Eldridge re-acquired the company's live and alternative division (which resumed business as Dick Clark Productions), as well as MRC's share of the PMRC joint venture, Luminate (the former MRC Data), and investments in studios including A24 and Fulwell 73. The remaining MRC entity, in which Eldridge will retain a minority stake, will retain its scripted film and TV production entity as well as investments in Civic Center Media and T-Street Productions.[23] Wiczyk and Satchu became chairmen of the company in 2023.[24]

SpinMedia

SpinMedia (formerly Buzz Media) was an American digital publisher that owned a number of pop culture websites, including Spin, Stereogum, Vibe, and The Frisky.[25] It was founded by Anthony Batt (CEO), Marc Brown, Kevin Woolery, and Steve Haldane under the name Buzznet.[26]

In 1999, Anthony Batt and Marc Brown started a blog, and by 2006, Buzznet had a total of nine employees in the Los Angeles, California, area.[26] The Buzz Media name was created as the company started to acquire more pop-culture and music blogs.

On March 19, 2009, the company announced that it raised US$12.5 million in funding from venture capitalists including Anthem Ventures, New Enterprise Associates, Redpoint Ventures, and Sutter Hill Ventures, and Focus Ventures.[27][28]

The company acquired Spin Media, publisher of Spin magazine, in July 2012.[29] After shutting down the print version of the magazine, reducing its staff to about 200, and focusing on advertising, it rebranded itself as SpinMedia in March 2013.[30] At that time, Steve Hansen became its chief executive.[30]

In April 2013, it acquired Vibe magazine.[31][32]

In 2014, M/C Partners became the primary owner of SpinMedia after an assignment for benefit of creditors.[33] That year, Buzz Media had also acquired music sites Property of Zack, AbsolutePunk.net, Under The Gun Review, and Punknews.org.[34]

In September 2016, SpinMedia sold Buzznet, Idolator, and PureVolume to startup corporation Hive Media.[35] In December of that year, Eldridge Industries acquired Spin, Vibe, Stereogum, and Death and Taxes via the Hollywood Reporter-Billboard Media Group for an undisclosed amount, making Billboard the world's largest music brand in terms of digital traffic and audience share.[36][37] Celebuzz, The Frisky, and The Superficial were sold to CPX Interactive.[38][better source needed]

In January 2020, Spin and Stereogum were sold to Next Management Partners and the site's management, respectively, as part of a larger focus on Vibe and a music data business.[39]

Filmography

Films produced or co-financed by MRC have included:

Television projects

Current

Upcoming

Previous

References

  1. ^ a b "About MRC". Media Rights Capital. Retrieved June 30, 2012.
  2. ^ Bond, Paul (February 13, 2013). "Media Rights Capital Raises $175 Million to Co-Finance Movies". The Hollywood Reporter. Retrieved March 9, 2016.
  3. ^ Shaw, Lucas (May 6, 2014). "Guggenheim Invests $240 Million in 'House of Cards' Producer Media Rights Capital". The Wrap. Retrieved March 9, 2016.
  4. ^ Fleming, Michael (September 5, 2007). "Media Rights to fund top directors". Variety. Retrieved December 21, 2021.
  5. ^ Thielman, Sam; Garrett, Diane (December 5, 2007). "Media Rights Capital, WB pact". Variety. Retrieved December 21, 2021.
  6. ^ Fleming, Michael (May 6, 2008). "Metzger moves to Media Rights". Variety. Retrieved December 21, 2021.
  7. ^ Schneider, Michael (June 25, 2008). "Dawn Parouse joins MRC". Variety. Retrieved December 21, 2021.
  8. ^ Schneider, Michael (October 23, 2008). "MRC TV president resigns". Variety. Retrieved December 21, 2021.
  9. ^ "MRC Unveils Four Shows for CW Sunday". zap2it.com. Archived from the original on May 29, 2008. Retrieved August 29, 2008.
  10. ^ Carter, Bill (November 20, 2008). "CW Says It Is Retaking Control of Its Sunday TV Lineup". The New York Times.
  11. ^ de Morales, Lisa (May 21, 2009). "For Fall, CW Brings On the Suds -- and Vampires". The Washington Post.
  12. ^ Andreeva, Nellie (March 15, 2011). "Netflix To Enter Original Programming With Mega Deal For David Fincher-Kevin Spacey Series 'House of Cards'". Deadline Hollywood. Archived from the original on March 16, 2011. Retrieved March 15, 2011.
  13. ^ Stelter, Brian (January 18, 2013). "A Drama's Streaming Premiere". The New York Times. Archived from the original on January 24, 2013. Retrieved January 25, 2013.
  14. ^ Patten, Dominic (October 30, 2017). "Netflix Cancels 'House Of Cards', Says It's 'Deeply Troubled' Over Kevin Spacey Claims". Deadline Hollywood. Archived from the original on October 30, 2017. Retrieved October 31, 2017.
  15. ^ Andrew Wallenstein (February 1, 2018). "Media Rights Capital, Dick Clark Prods., THR-Billboard Combine Company". Variety. Retrieved April 17, 2018.
  16. ^ Hipes, Patrick (October 10, 2018). "UTA Teams With MRC On TV Studio Joint Venture Dubbed Civic Center Media". Deadline. Retrieved July 22, 2020.
  17. ^ Ng, David (October 10, 2018). "United Talent Agency jumps into TV production in deal with studio behind 'House of Cards'". Los Angeles Times. Retrieved July 9, 2019.
  18. ^ Steele, Anne (December 18, 2019). "Billboard Parent Buys Nielsen Music". Wall Street Journal. ISSN 0099-9660. Retrieved July 22, 2020.
  19. ^ "The Hollywood Reporter-Billboard Group to Rebrand as MRC Media". Variety. April 9, 2020. Retrieved June 24, 2020.
  20. ^ Goldsmith, Jill (July 22, 2020). "THR Parent Valence Media Rebrands As MRC". Deadline. Retrieved July 22, 2020.
  21. ^ Ellefson, Lindsey (September 23, 2020). "Variety Parent Penske Media to Take Over Hollywood Reporter, Billboard in Joint Venture With MRC". TheWrap. Retrieved September 23, 2020.
  22. ^ Andreeva, Nellie (September 12, 2021). "Adam Stotsky Named President Of MRC Live & Alternative As Dick Clark Prods. Name Is Phased Out". Deadline. Retrieved October 23, 2021.
  23. ^ Earl, William (August 5, 2022). "MRC Chiefs Modi Wiczyk and Asif Satchu Part Ways With Eldridge, PMRC Joint Venture". Variety. Retrieved August 5, 2022.
  24. ^ "MRC Names Jenna Santoianni Head of TV as Elise Henderson Exits".
  25. ^ "BUZZMEDIA Acquires Top Women's Entertainment & Lifestyle Website The Frisky from Turner Broadcasting". Reuters. February 11, 2011. Archived from the original on September 24, 2015. Retrieved September 4, 2015.
  26. ^ a b Ben Kuo (May 10, 2006). "Interview with Anthony Batt, Co-Founder, Buzznet". SoCal Tech" High Tech News and Information for Southern California. Retrieved October 23, 2013.
  27. ^ Rivera, Dominic (March 20, 2009). "Buzznet becomes Buzz Media; Raises $12.5 million new funding". Blog Herald. Retrieved April 7, 2010.
  28. ^ Maher, Rory (March 19, 2009). "Buzznet Raises $12.5 Million; Changes Name To Buzz Media". paidContent. Retrieved April 7, 2010.
  29. ^ "BUZZMEDIA Buys Spin". SoCal Tech" High Tech News and Information for Southern California. July 10, 2012. Retrieved October 23, 2013.
  30. ^ a b "Buzzmedia Rebrands Itself SpinMedia". Billboard. March 25, 2013. Retrieved October 23, 2013.
  31. ^ "Vibe Magazine Purchased by SpinMedia, Will Probably Go Online-Only". Billboard. April 25, 2013. Retrieved October 23, 2013.
  32. ^ Sisario, Ben (April 25, 2013). "Vibe Magazine Is Sold and Likely to Become Online Only". The New York Times. Retrieved October 23, 2013.
  33. ^ "SpinMedia LLC Acquired By New Investors as SpinMedia Group Receives $10M" (Text). Billboard. February 3, 2014. Retrieved January 2, 2017.
  34. ^ Bruce Houghton (August 27, 2012). "Fresh Off Spin Magazine Purchase, BUZZMEDIA Buys 4 Top Punk Rock Sites". Retrieved August 27, 2012.
  35. ^ Rys, Dan (September 21, 2016). "SpinMedia Sells Idolator, Buzznet & PureVolume to Hive Media". Billboard. Retrieved September 22, 2016.
  36. ^ "The Hollywood Reporter-Billboard Media Group Acquires SpinMedia's Music Brands, Including SPIN, VIBE, and Stereogum". Spin. December 22, 2016. Retrieved December 10, 2020.
  37. ^ "Billboard Buys Spin and Vibe in a Quest to 'Own the Topic of Music Online'". Adweek. Retrieved March 10, 2017.
  38. ^ "More SpinMedia sites sold (RIP SpinMedia)". BrooklynVegan. Retrieved January 2, 2017.
  39. ^ "Billboard-The Hollywood Reporter Media Group Sells Spin, Agreement in Place for Sale of Stereogum". Billboard. January 16, 2020. Retrieved July 22, 2020.
  40. ^ a b c d e f g h McClintock, Pamela (September 20, 2011). "Media Rights Capital Closes Five-Year $350 Million Credit Facility". The Hollywood Reporter. Retrieved July 10, 2019.
  41. ^ "22 Jump Street". mrcstudios.com. Retrieved March 9, 2016.
  42. ^ a b Goldsmith, Jill (July 22, 2020). "THR Parent Valence Media Rebrands As MRC". Deadline. Retrieved July 26, 2020.
  43. ^ Debruge, Peter (December 15, 2020). "Sundance Film Festival Lineup Features 38 First-Time Directors, Including Rebecca Hall and Robin Wright". Variety. Retrieved December 15, 2020.
  44. ^ D'Alessandro, Anthony (April 20, 2021). "Dakota Johnson Set To Star In Netflix & MRC Film's Jane Austen Update 'Persuasion'". Deadline Hollywood. Retrieved April 20, 2021.
  45. ^ "JK Simmons To Star In Starz Drama Series From 'The Imitation Game' Director". Deadline Hollywood. April 22, 2015. Retrieved April 22, 2015.
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