Eldridge Industries

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Eldridge Industries, LLC
TypePrivate investment
Founded2015; 7 years ago (2015)
FounderTodd Boehly
HeadquartersGreenwich, Connecticut, U.S.[1]
Websiteeldridge.com

Eldridge Industries LLC is a holding company headquartered in Greenwich, Connecticut, with offices in New York, London, and Beverly Hills.[2] Eldridge makes investments in various industries including insurance, asset management, technology, sports, media, real estate, and the consumer sector.[3][4][5][6]

History[edit]

Eldridge was formed in 2015 by CEO and Chairman Todd Boehly, President Anthony D. Minella, and General counsel Duncan Bagshaw,[7][8] after Boehly purchased Dick Clark Productions, Billboard and The Hollywood Reporter, and Mediabistro from Guggenheim Partners.[5]

Eldridge owns CBAM Partners, an SEC-registered investment advisor.[9] In 2019, Eldridge increased its investment in Maranon Capital, an investment manager, resulting in Eldridge holding a majority ownership stake in the company.[10]

In December 2020, Eldridge provided financing to Ark Invest, allowing ARK founder Cathie Wood to remain majority shareholder of the company.[11]

In January 2021, the College of William & Mary announced that it had partnered with Eldridge to develop a series of courses related to fiscal policy at the Mason School of Business.[12]

In 2021, some of Eldridge's credit management operations spun out to create Panagram Structured Asset Management.[13]

Horizon Acquisition Corporation[edit]

Eldridge's special-purpose acquisition company Horizon Acquisition Corporation was founded in June 2020.[14] The company filed for a blank check IPO of $575 million in August 2020.[15] Horizon Acquisition Corporation II, an SPAC focused on media and entertainment, in August 2020.[16]

In March 2021, Eldridge's Horizon Acquisition Corporation III filed for a $500 million IPO.[17] Horizon Acquisition Company acquired ticket reseller Vivid Seats in April 2021.[18] The company merged with Vivid Seats,[19] which went public as Vivid on October 19, 2021. Vivid is traded on the Nasdaq and NYSE.[20]

Sports[edit]

In March 2017, Eldridge led a round of funding estimated at over $100 million for DraftKings, a daily fantasy sports contest provider.[21][22] DraftKings purchased a stake in Vivid from Eldridge, when the company went public in October 2021.[23] Eldridge also has a stake in the Los Angeles Dodgers;[24] Chavez Ravine, the acreage around Dodger Stadium;[25][26] Cloud9;[27] and Atrium Sports;[28]

In December 2021, it was announced that Eldridge's CEO Todd Boehly was heading an ownership group in negotiations to purchase a controlling interest in the Washington Spirit.[29]

Technology[edit]

Eldridge has invested in fintech companies PayActiv, Stash and Truebill.[30] In February 2021, Stash reached a value of over $1.4 billion.[31]

Eldridge has invested in technology companies Capital Integration Systems (CAIS),[32] Digital Asset,[33] and Cutover.[34] In 2021, Eldridge participated in multiple funding rounds for digital delivery service Gopuff, including the company's $1.1 billion financing round.[35]

In July 2020, Eldridge invested in a $53 million fundraising round for Kernel, a Los Angeles-based neurotechnology company.[36]

Eldridge took part in a $475 million financing round for artificial intelligence company Dataminr.[37]

The firm provided financing to Prescient, a building technology platform, for $50 million in July 2018.[38] Eldridge committed an additional $40 million in funding for the company in June 2020 for a total of $90 million.[39][40] Eldridge led a $190 million strategic investment into Prescient in 2021.[41]

Eldridge acquired data technology company Knoema in 2020.[42] Eldridge has invested in The Ready Games and mobile game developer Tripledot Studios.[43][44] Eldridge held a stake in Epic Games which was sold back to Epic in 2021.[7]

Eldridge has made multiple investments into Truebill, including participating in a $45 million funding round in 2021,[45] after leading a Series B round in 2019.[46] Eldridge participated in a $235 million in AI security company AnyVision in July 2021, after previously investing in the company in 2018.[47]

Eldridge invested in digital health platform Wellthy in May 2020, and participated in a $35 million Series B funding round for the company in June 2021.[48] Eldridge also participated in a $62 million investment round for fertility services company Kindbody.[49] Eldridge also acquired sporting goods producer G-Form, which produces Smart-Flex athletic gear.[50]

In November 2021, Eldridge participated in a $30 million investment round for artificial intelligence company Netomi.[51] The company also led a $600 million debt funding round for Digital Currency Group.[52]

Consumer industry[edit]

In 2017 Eldridge acquired, with a co-investor, Pittsburg-based NPC International, LLC, the largest franchisee of Pizza Hut (part of Yum Brands), and Wendy's.[53] On July 1, 2020 NPC filed for Chapter 11 bankruptcy.[54]

Eldridge has backed hospitality group Aurify Brands since it was founded in 2011.[55] Eldridge invested in international bakery-restaurant chain Le Pain Quotidien through Aurify in March 2021.[56] Eldridge also invested in pizza restaurant chain Chuck E. Cheese.[57]

Thirteenth Floor Entertainment Group, an operator of horror-themed entertainment venues and escape rooms, is partially owned by Eldridge.[58][59] Eldridge was part of a group of creditors who invested $1.2 billion in Canadian company Cirque du Soleil in 2020.[60]

Eldridge invested in virtual reality entertainment company Illuminarium Experiences, as part of a $100 million investment.[61] The company led a $3.4 million funding round for food delivery marketplace Sesame in December 2021.[62]

Real estate[edit]

Eldridge owns Stonebriar Commercial Finance, a large ticket commercial finance and leasing company,[63] and co-owns Cain International, a London-headquartered real estate firm which owns The Beverly Hilton and Waldorf Astoria Beverly Hills.[64][65][66]

Eldridge seeded Essential Properties Realty Trust, a REIT that went public in June 2018.[67] In October 2019, Eldridge invested $300 million in real estate investment company Kennedy Wilson.[68] Eldridge committed €1 billion to Blackbrook Capital, an independent European real estate investment firm, in March 2020.[69][70]

In December 2021, Eldridge acquired a minority interest in Langdon Park Capital, a Black-owned real estate investment company."[71]

Insurance[edit]

Eldridge owns Security Benefit Life Insurance, an insurer with $40 billion in assets.[24] The firm also owns SE2, a technology platform for insurance companies.[72][73] In 2019 SE2 and Life.io launched an integrated life insurance and annuity platform, SE2 Digital Engage.[74]

Eldridge invested in DPL Financial Partners in January 2021.[75] That year, Eldridge invested in PPRO Financial and Clearcover Insurance.[76][77] Hudson Structured Capital Management refinanced in 2021, with Eldridge as its principal backer.[78]

Media holdings[edit]

In 2015, Eldridge put some of its media properties up for sale, including Adweek and the Clio Awards.[79] Adweek was sold a year later to Beringer Capital.[80] The Clio Awards, a 58-year-old ad industry event, was sold to investment company Evolution Media in 2017.[81]

In December 2016, Billboard-Hollywood Reporter Media Group purchased the music publications Spin, Stereogum and Vibe from SpinMedia for an undisclosed amount.[82]

In February 2018, Eldridge announced it would be consolidating three of its entertainment properties into a new company, Valence Media,[83] which rebranded as MRC on July 20, 2020.[84] The properties included Media Rights Capital, a film and television studio which created Netflix shows Ozark and House of Cards;[85][86] Dick Clark Productions; and the Billboard-The Hollywood Reporter Media Group.[87][88][89]

MRC's co-founders Asif Satchu and Modi Wiczyk serve as co-CEOs and Boehly serves as Chairman.[88][90] MRC also owns a minority stake in film distributor A24;[89] and London-based production company Fulwell 73.[91][24]

In 2018, Eldridge also became a partner for the Global Citizen Festival, which was held in South Africa to honor the life and legacy of Nelson Mandela in his centenary year.[92]

In December 2019, Valence acquired Nielsen Holdings' music data business.[93]

In January 2020, MRC sold music publications Spin and Stereogum to Next Management Partners.[94]

In November 2020, Eldridge acquired the music publishing rights to American rock band The Killers, covering the band's first five albums. Universal Music Publishing Group will continue to administer the catalogue.[95]

In September 2020, it was announced that Penske Media Corporation and MRC would form a joint venture named PMRC. The new venture manages the daily operations of publications such as Billboard, The Hollywood Reporter, Vibe, Variety, Rolling Stone and Music Business Worldwide.[96] A second joint venture between MRC and Penske was also announced, to manage content and intellectual property such as television series, films, and live events including South by Southwest.[97]

Eldridge led a $3 million funding round for Laylo, a startup fan engagement platform, in 2021.[98]

In December 2021, Eldridge partnered with Sony Music Group to finance the acquisition of Bruce Springsteen's recorded music and songwriting catalogue.[99] The deal, which was estimated to be between $500 million and $600 million, was reportedly the largest transaction for an individual artist's music rights to date.[100]

References[edit]

  1. ^ "Company Overview of Eldridge Industries LLC". Bloomberg L.P. August 16, 2018.
  2. ^ "Eldridge - About".
  3. ^ "Guggenheim Prepares To Sell Hollywood Reporter, Dick Clark Productions To Exec". Deadline.com. 17 December 2015. Retrieved 18 December 2015.
  4. ^ "Guggenheim Media Spins Off Money-Losing Hollywood Reporter, Billboard to Company President Todd Boehly (Exclusive)". The Wrap. 17 December 2015. Retrieved 18 December 2015.
  5. ^ a b "Hollywood Reporter Parent Company Spins Off Media Assets to Executive". The Hollywood Reporter. 17 December 2015. Retrieved 3 January 2016.
  6. ^ "Conn. PE Firm Eldridge Closes $1.4B In Funding". Law360. April 15, 2019.
  7. ^ a b "From CLOs to 'Ozark,' ex-Guggenheim president builds an empire". Financial Planning. 2019-09-09. Retrieved 2020-06-16.
  8. ^ "Duncan Bagshaw". www.bloomberg.com. Retrieved 2020-06-16.
  9. ^ "CLO Roundup: CBAM marketing its fourth $1B CLO of the year". Asset Securitization Report. 2017-11-17. Retrieved 2020-06-22.
  10. ^ "Eldridge Industries Acquires Majority Ownership Position in Maranon Capital". www.businesswire.com. 2019-02-04. Retrieved 2020-08-11.
  11. ^ "The ARK Invest Takeover Battle Is Over". Institutional Investor. Retrieved 2021-05-12.
  12. ^ "Eldridge Partners with William & Mary to Develop New Course Offerings for The Boehly Center". mason.wm.edu. Archived from the original on 2021-01-19. Retrieved 2021-05-16.
  13. ^ "Eldridge spins off structured credit team to launch new CLO investor". www.globalcapital.com. 16 June 2021. Retrieved 2021-09-06.
  14. ^ "Horizon Acquisition Corp - Company Profile and News". Bloomberg.com. Archived from the original on 2021-05-17. Retrieved 2021-05-16.
  15. ^ "Blank-check company Horizon Acquisition files for IPO". www.spglobal.com. Archived from the original on 2021-05-17. Retrieved 2021-05-16.
  16. ^ Spangler, Todd (2020-11-23). "Ex-Netflix Programming Exec Cindy Holland Joins Board of Entertainment Holding Company Horizon Acquisition Corp. II". Variety. Archived from the original on 2020-11-24. Retrieved 2021-05-16.
  17. ^ Reuters Staff (2021-03-24). "Third SPAC led by LA Dodgers owner Boehly files for $500 million U.S. IPO". Reuters. Retrieved 2021-05-16.
  18. ^ Bunker, Ted (2021-04-22). "Eldridge-Backed SPAC Scoops Up Ticket Reseller Vivid Seats". Wall Street Journal. ISSN 0099-9660. Retrieved 2022-01-03.
  19. ^ Golum, Rob (October 14, 2021). "DraftKings Invests in Vivid Seats SPAC as Boehly Cuts Stake". www.bloomberg.com. Archived from the original on 2022-01-03. Retrieved 2022-01-03.
  20. ^ Smith, Connor. "Vivid Seats Completed Its SPAC Merger. It Could Be A Reopening Play". www.barrons.com. Retrieved 2022-01-03.
  21. ^ "Dodgers' Boehly Leads $100 Million DraftKings Investment". Bloomberg.com. 9 March 2017. Retrieved 10 March 2017.
  22. ^ Curt Woodward (March 9, 2017). "Another $100 million in financing for DraftKings". The Boston Globe.
  23. ^ "DraftKings acquires stake in Vivid Seats SPAC". SportsPro. 2021-10-15. Retrieved 2022-01-03.
  24. ^ a b c Childs, Mary. "Former Guggenheim President Todd Boehly Is Growing His Investment Empire, From the Dodgers to Collateralized Loans". www.barrons.com. Retrieved 2020-06-16.
  25. ^ Childs, Mary (12 April 2019). "Former Guggenheim President Todd Boehly Is Growing His Investment Empire, From the Dodgers to Collateralized Loans". www.barrons.com. Retrieved 2020-09-16.
  26. ^ Garcia, David G. (2006). "Remembering Chavez Ravine: Culture Clash and Critical Race Theater". Chicana/o Latina/o Law Review. 26 (1). doi:10.5070/C7261021168. ISSN 1061-8899.
  27. ^ Perez, Matt. "Cloud9 eSports Team Closes Series A Funding, Investors Include Joe Montana, Alexis Ohanian". Forbes. Retrieved 2020-06-16.
  28. ^ Young, Jabari (2019-12-16). "Atrium Sports buys sports analytics provider Synergy to create $100 million sports data and AI company". CNBC. Retrieved 2020-06-16.
  29. ^ "Todd Boehly, Jennifer Tepper Mackesy in talks to buy Washington Spirit". Washington Post. ISSN 0190-8286. Retrieved 2022-01-03.
  30. ^ Basak, Sonali; Surane, Jennifer (1 April 2020). "US Hourly Workers Pressured by Crisis to Get Paid Sooner". www.bloomberg.com. Retrieved 2020-06-22.
  31. ^ Rooney, Kate (2021-02-03). "Investing app Stash raises $125 million as it looks to add new customers — just not day traders". CNBC. Retrieved 2021-09-06.
  32. ^ Hu, David French, Krystal (2020-11-18). "Boehly's Eldridge invests in financial technology firm CAIS". Reuters. Retrieved 2021-05-10.
  33. ^ "Digital Asset Bags $120M in Series D". vcnewsdaily.com. Archived from the original on 2021-04-22. Retrieved 2021-05-10.
  34. ^ "Orchestration platform Cutover raises $35M for digital transformations". VentureBeat. 2021-03-03. Archived from the original on 2021-03-03. Retrieved 2021-05-10.
  35. ^ Reuters Staff (2021-03-23). "GoPuff raises $1.15 billion at nearly $9 billion valuation from SoftBank, others". Reuters. Retrieved 2021-05-10.
  36. ^ "Kernel raises $53 million for its non-invasive 'Neuroscience as a Service' technology". TechCrunch. Retrieved 2021-09-06.
  37. ^ "Dataminr raises $475M on a $4.1B valuation for real-time insights based on 100k sources of public data". TechCrunch. Retrieved 2021-05-10.{{cite web}}: CS1 maint: url-status (link)
  38. ^ Iris Dorbian (July 23, 2018). "Prescient snags $50 mln Series E". PE Hub.
  39. ^ "Construction Tech Co. Prescient Gets $90M Financing - Law360". www.law360.com. Retrieved 2020-09-16.
  40. ^ "Prescient receives $90M in funding". Construction Dive. Retrieved 2020-09-16.
  41. ^ "Building software startup Prescient raises $190M from Eldridge". News & Observer. May 3, 2021.
  42. ^ "Knoema announces acquisition by Eldridge and partnership with Snowflake". VentureBeat. 2020-12-21. Archived from the original on 2020-12-21. Retrieved 2021-05-16.
  43. ^ "Ready raises $5 million for hyper-casual esports platform". VentureBeat. 2019-08-27. Retrieved 2020-06-16.
  44. ^ "Tripledot raises $78 million for London-based mobile game studio". VentureBeat. 2021-04-08. Archived from the original on 2021-04-08. Retrieved 2021-05-10.
  45. ^ Gilgore, Sara (June 1, 2021). "Local fintech raises $45M 'to continue expanding aggressively'". www.bizjournals.com. Retrieved 2021-09-06.{{cite web}}: CS1 maint: url-status (link)
  46. ^ "Local fintech raises $45M 'to continue expanding aggressively'". www.bizjournals.com. Retrieved 2021-09-06.{{cite web}}: CS1 maint: url-status (link)
  47. ^ "AnyVision: Access Point AI-Based Physical Security". www.pymnts.com. 2021-07-07. Retrieved 2021-09-06.
  48. ^ "Wellthy Secures $35 Million in Series B Funding to Support Companies and Employees with Return to Work". TecHR. 2021-06-28. Retrieved 2021-09-06.
  49. ^ Stych, Anne (July 20, 2021). "Celebrities sign on to back $62 million Kindbody Series C funding". www.bizjournals.com. Retrieved 2021-09-06.{{cite web}}: CS1 maint: url-status (link)
  50. ^ "G-Form Announces Acquisition By Eldridge". sgbonline.com. 2021-04-09. Retrieved 2021-04-15.
  51. ^ Alcántara, Ann-Marie (2021-11-17). "AI Customer-Service Startup Netomi Raises $30 Million". Wall Street Journal. ISSN 0099-9660. Retrieved 2022-01-03.
  52. ^ "Eldridge Agents $600MM Credit Facility for Digital Currency Group". ABL Advisor. November 19, 2021.
  53. ^ Pizza Hut's largest franchise operator weighs options, including bankruptcy Retrieved July 1, 2020
  54. ^ Pizza Hut's largest U.S. franchisee files for Chapter 11 bankruptcy Retrieved July 1, 2020
  55. ^ Ewen, Beth. "Backed by Aurify, Melt Shop searches for perfection". franchisetimes.com. Archived from the original on 2021-05-17. Retrieved 2021-05-16.
  56. ^ Ewen, Beth. "Aurify Rescues Two Chains From Distress Amid Pandemic 'Disaster' in NYC". franchisetimes.com. Archived from the original on 2021-04-01. Retrieved 2021-05-16.
  57. ^ How Eldridge Industries Found Coronavirus Investment Opportunities, retrieved 2021-05-16
  58. ^ Childs, Mary. "Former Guggenheim President Todd Boehly Is Growing His Investment Empire, From the Dodgers to Collateralized Loans". www.barrons.com. Retrieved 2020-08-18.
  59. ^ OKONEmailFollow, B. O. B. "Thirteenth Floor plans haunted house at Old Joliet Prison". www.theherald-news.com. Retrieved 2020-08-18.
  60. ^ Kosman, Josh (2020-06-08). "Cirque du Soleil gets $1.2 billion buyout offer from creditors". New York Post. Retrieved 2021-05-12.
  61. ^ Spangler, Todd (2021-06-14). "'VR Without the Goggles': Illuminarium Set to Launch Its First Immersive Entertainment Location in Atlanta". Variety. Retrieved 2021-09-06.
  62. ^ "Food Delivery Marketplace Sesame Raises $3.4 Million". QSR magazine. Retrieved 2022-01-03.
  63. ^ "Stonebriar Set to Close its Fifth Equipment Securitization Transaction for $650 Million". www.prnewswire.com. Retrieved 2020-06-22.
  64. ^ "From CLOs to 'Ozark,' ex-Guggenheim president builds an empire". Financial Planning. 2019-09-09. Retrieved 2020-06-22.
  65. ^ Gittelsohn, John; Clark, Patrick (17 August 2018). "Dodgers Co-Owner Takes Stake in Beverly Hilton Hotel". www.bloomberg.com. Retrieved 2020-06-22.
  66. ^ Lazaroff, Leon. "Dick Clark Productions deal expected to close in coming weeks". TheStreet. Retrieved 2020-06-22.
  67. ^ Kristy Westgard (June 21, 2018). "'Retail Apocalypse' Didn't Scare This Landlord Off an IPO". Bloomberg L.P.
  68. ^ "Kennedy Wilson receives $300M investment, announces new $1.5B target for West Coast fund". The Real Deal Los Angeles. 2019-10-18. Retrieved 2020-06-16.
  69. ^ "Industry Veterans Launch European Specialist Real Estate Investment Firm Blackbrook Capital". Blackbrook. Retrieved 2020-08-11.
  70. ^ "New European property investment firm gets €1bn capital backing". Real Assets. 3 March 2020. Retrieved 2020-08-11.
  71. ^ "Langdon Park Capital Announces Strategic Investment from Eldridge". www.bloomberg.com. December 2, 2021. Archived from the original on 2022-01-03. Retrieved 2022-01-03.
  72. ^ "From CLOs to 'Ozark,' Ex-Guggenheim President Builds an Empire". BloombergQuint. Retrieved 2020-08-18.
  73. ^ "SE2 named a Leader in Life, Annuities, and Pensions BPS by NelsonHall". GlobeNewswire News Room. 2020-06-30. Retrieved 2020-08-18.
  74. ^ "SE2 and Life.io Announce Integrated, End-To-End Digital Engagement Solution That Reimagines Selling and Policy Servicing of Life Insurance". GlobeNewswire News Room. 2019-09-19. Retrieved 2020-08-18.
  75. ^ Cawthon, Haley (January 13, 2021). "DPL Financial Partners secures $26 million in growth capital". www.bizjournals.com. Archived from the original on 2021-01-13. Retrieved 2021-05-12.
  76. ^ "PPRO extends latest round to $270M, adding JPMorgan and Eldridge to grow its localized payments platform". TechCrunch. Retrieved 2021-05-12.
  77. ^ "Exclusive Insurance startup Clearcover raises $200 mln from Eldridge, others at $1 bln valuation". Reuters. 2021-04-13. Retrieved 2021-05-12.
  78. ^ Evans, Steven (2021-02-09). "Hudson Structured refinances with Eldridge backing for future growth - Artemis.bm". Artemis.bm. Archived from the original on 2021-02-09. Retrieved 2021-05-16.
  79. ^ Keith J. Kelly (May 31, 2016). "AdWeek, Clio Awards put up for sale". New York Post.
  80. ^ "Adweek acquired by private equity firm Beringer Capital". TechCrunch. Retrieved 19 July 2016.
  81. ^ "Clio Awards Acquired by Global Investment Firm Evolution Media". Adweek. Retrieved 2018-03-29.
  82. ^ "Hollywood Reporter-Billboard Group acquires Spin, Vibe and Stereogum". Los Angeles Times. December 23, 2016. Retrieved December 13, 2018.
  83. ^ Wallenstein, Andrew (2018-02-01). "Media Rights Capital, Dick Clark Prods., THR-Billboard Form Combined Company". Variety. Retrieved 2020-06-22.
  84. ^ Goldsmith, Jill (2020-07-22). "THR Parent Valence Media Rebrands As MRC". Deadline. Retrieved 2020-07-22.
  85. ^ Wallenstein, Andrew (2018-02-01). "Media Rights Capital, Dick Clark Prods., THR-Billboard Form Combined Company". Variety. Retrieved 2020-06-29.
  86. ^ "From CLOs to 'Ozark,' ex-Guggenheim president builds an empire". Financial Planning. 2019-09-09. Retrieved 2020-06-29.
  87. ^ Wallenstein, Andrew (2018-02-01). "Media Rights Capital, Dick Clark Prods., THR-Billboard Form Combined Company". Variety. Retrieved 2018-03-29.
  88. ^ a b Faughnder, Ryan (February 2018). "'House of Cards' producer MRC merges with Dick Clark Productions and Hollywood Reporter publisher". Los Angeles Times. Retrieved 2018-03-29.
  89. ^ a b Diane Haithman (February 2, 2018). "Billboard-Hollywood Reporter, Dick Clark Productions and MRC Merge as Valence Media". Los Angeles Business Journal.
  90. ^ Tony Maglio (February 1, 2018). "THR to Combine With Dick Clark Productions, 'House of Cards' Studio in New Todd Boehly Banner". TheWrap.
  91. ^ "Eldridge Industries Announces $1.36 Billion Equity Investment". www.businesswire.com. 2019-04-15. Retrieved 2020-06-29.
  92. ^ Lexy Perez (July 9, 2018). "Beyonce, Jay-Z Among Headliners at Global Citizen Festival Honoring Nelson Mandela Centennial". The Hollywood Reporter.
  93. ^ Steele, Anne (2019-12-18). "Billboard Parent Buys Nielsen Music". The Wall Street Journal. ISSN 0099-9660. Retrieved 2020-07-22.
  94. ^ "Billboard-The Hollywood Reporter Media Group Sells Spin, Agreement in Place for Sale of Stereogum". Billboard. 2020-01-16. Retrieved 2020-08-18.
  95. ^ "The Killers' Catalog Acquired in Eldridge's First Music Publishing Deal". Billboard.
  96. ^ Yoo, Noah (23 September 2020). "Rolling Stone, Billboard, Vibe, More to Operate Under New Joint Venture PMRC". Pitchfork. Archived from the original on 2020-09-25. Retrieved 2021-05-16.
  97. ^ "Billboard Parent Company MRC Teams With Penske Media for Publishing and Content Ventures". Billboard. Archived from the original on 2020-09-23. Retrieved 2021-05-16.
  98. ^ "Laylo Raises $3 Million From Eldridge-Led Group | Los Angeles Business Journal". labusinessjournal.com. Retrieved 2021-09-06.
  99. ^ Peoples, Glenn (2021-12-17). "What Is Eldridge Industries? A Primer on Sony's Springsteen Partner". Billboard. Retrieved 2022-01-03.
  100. ^ Steele, Anne; Shah, Neil (2021-12-17). "Bruce Springsteen Sells His Music to Sony Music Group". Wall Street Journal. ISSN 0099-9660. Retrieved 2022-01-03.

External links[edit]