‘Billboard,’ Dick Clark Productions Sold

BillboardSale2015Guggenheim Partners has sold Billboard, The Hollywood Reporter (THR), Dick Clark Productions (ACM Awards, Golden Globes, American Music Awards, Billboard Music Awards, New Year’s Rockin’ Eve) and other assets for an undisclosed amount to its Digital Media President (and Los Angeles Dodgers co-owner) Todd Boehly and other unspecified investors.

Leadership at all the entities will remain the same, however the properties will be divvied into four companies: THR and Billboard will be housed in an entity called The Hollywood Reporter-Billboard Media Group; Adweek, Mediabistro and the Clio Awards will be together; while Dick Clark will operate independently, as will A24 [a film distribution company].

“My goal is to invest and build something even more special than what we have now,” sais Boehly in an announcement by Billboard on Friday (Dec. 18). “These are tremendous brands with huge growth potential, especially as they expand into video.”

In the process, New York-based Boehly will no longer serve as an executive of Guggenheim Partners, where he has been for five years. He will however remain a major shareholder and a member of the firm’s executive committee, as outlined in the statement. He also retains his minority stake in House of Cards producer Media Rights Capital and is a co-owner of film distribution company A24 (Room, Ex Machina).

In late 2009, Guggenheim Partners purchased of a grouping of eight brands, including Billboard and THR, from The Nielsen Company in late 2009 for an estimated $75 million.

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Eric T. Parker oversees operations and contributes editorial for MusicRow's print magazine, MusicRow.com, the RowFax tip sheet and the MusicRow CountryBreakout chart. He also facilitates annual events for the enterprise, including MusicRow Awards, CountryBreakout Awards and the Rising Women on the Row. [email protected] @EricTParker

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