Wanda Group In Talks To Add Dick Clark Productions To Global Media Armada
Source: YAHOO! Finance
China’s Wanda Group is contemplating a deal that could give it control of Dick Clark Productions, which broadcasts the Golden Globes, the American Music Awards, Dick Clark’s New Year’s Rockin’ Eve With Ryan Seacrest and other splashy events.
Although there’s no formal offer, we’re told the owner of AMC Entertainment and Legendary Entertainment is in the lead to buy the production company, with a valuation of about $1 billion. Talks for DCP, controlled by former Guggenheim Partners president Todd Boehly’s Eldridge Industries, are becoming more serious after more than a year of conversations that have run hot and cold.
Boehly bought DCP last year when he stepped down as Guggenheim’s president, but remained on its executive council. He told Reuters in June that he had hired Moelis & Co and Goldman Sachs to review his media holdings after he received an unsolicited offer for one of them.
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Wanda has been actively building its collection of entertainment-related assets. AMC is on course to become the world’s largest exhibition company with pending deals to buy UK-based Odeon & UCI Cinemas, and Carmike Cinemas.
Read more: http://finance.yahoo.com/news/wanda-group-talks-add-dick-230954669.html
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