Media Rights Capital, Dick Clark Productions And ‘Billboard’ Publisher Merge

Television event production company Dick Clark Productions, House of Cards production company Media Rights Capital (MRC) and the publisher of Billboard and Hollywood Reporter have merged under a new entity called Valence Media, reports the LA Times.

Los Angeles-based Valence is owned by Todd Boehly’s Eldridge Industries and MRC co-founders Asif Satchu and Modi Wiczyk. Satchu and Wiczyk will lead the new company as co-chief executives, while Boehly will serve as chairman.

Eldridge, which Boehly formed when he left Guggenheim Partners, already owned Dick Clark Productions, Billboard-Hollywood Reporter Media Group and a minority stake in MRC. In 2016, the Billboard-Hollywood Reporter bought rock music publication Spin, hip-hop and R&B magazine Vibe and indie music blog Stereogum in a bid to reach a younger, digitally-inclined audience.

LA Times reports that leadership for both Hollywood Reporter and Billboard will remain intact.

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Jessica Nicholson

Jessica Nicholson serves as the Managing Editor for MusicRow magazine. Her previous music journalism experience includes work with Country Weekly magazine and Contemporary Christian Music (CCM) magazine. She holds a BBA degree in Music Business and Marketing from Belmont University. She welcomes your feedback at [email protected].

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