Guggenheim Partners, along with Mandalay Entertainment and Mosaic Media Investment Partners, reached an agreement on Tuesday to purchase Dick Clark Productions from RedZone Capital Management.
The terms of the transaction were not disclosed.
Todd Boehly, president of Guggenheim Partners, said, "We look forward to continuing dcp's production of branded entertainment that has become a part of the American lexicon. We plan to work closely with the Hollywood Foreign Press Association, the Academy of Country Music and all of the network partners and sponsors to ensure dcp's long-term growth and success."
"We're thrilled about the transaction with Guggenheim Partners," said Mark Shapiro, CEO, Dick Clark Productions. "The storied assets and the creative team of Dick Clark Productions are a perfect fit with Guggenheim's dynamic leadership in the entertainment space and their powerful breadth of unique and diversified content, which is rapidly expanding. Dick Clark and his legacy will surely be in good hands,."
Dick Clark's television programming includes the Golden Globe Awards, the American Music Awards, the Academy of Country Music Awards,New Year's Rockin' Eve and So You Think You Can Dance.