Chinese Firm In Talks For DCP

Dick Clark Productions is in the sights of Chinese billionaire Wang Jianlin, through his Dalian Wanda Group and subsidiary Beijing Wanda Culture Industry Group Co.

Photo: AP Photo

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Wanda reportedly has entered an exclusive negotiation for the American entertainment firm, which produces the Golden Globe and American Music Awards and is valued at about $1 billion. If successful, Wanda would add DCP to a list of American holdings including AMC Entertainment and movie producer Legendary Entertainment, according to the Wall Street Journal.

The late Dick Clark founded DCP in 1957. The company was sold in 2012 to an investor group led by Guggenheim Partners along with entertainment trades Billboard and The Hollywood Reporter.

Guggenheim then sold the properties last year to what is now Eldridge Industries, a company controlled by former Guggenheim president Todd Boehly. Eldridge said earlier this year it was conducting a strategic review of all of its properties but, with its stable of successful television awards shows and the “Miss America” pageant, some observers noted that DCP would likely be the only considered attractive for sale.

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