RedZone Capital, which is the majority owner in Six Flags, has announced it has purchased of Dick Clark Productions for $175 million. Dick Clark Productions was founded by Dick Clark in 1957.
“Dick Clark Productions is responsible for some of the most enduring brands in entertainment,” says RedZone Managing Member Daniel M. Snyder. “This was a rare opportunity to acquire a powerhouse portfolio and grow it in new directions. Continuing and expanding the legacy and tradition of this proud company is an exciting prospect. We believe we can extend the already successful programming and broadcast platforms with new approaches, new media, and diverse technologies – cellular, internet and wireless.”
Coming with Dick Clark Productions, in addition to its almost 900 hourly broadcasts from American Bandstand, are Dick Clark’s New Year’s Rockin’ Eve, The Golden Globes, The Academy of Country Music and the American Music Awards. The company has over 10,000 hours of live music performances. It also has a catalog of made-for-TV movies, among a number of other programming and specials.
“Dan Snyder and his group will bring energy and new direction to a company that has meant so much to me,” says Clark. “As we’ve talked I’ve come to learn just how passionate these people are about this business and extending our success. They have my full support.”
RedZone had hired Creative Artists Agency to help develop the content and shows into new opportunities across multiple platforms.
Knowing of a lot of Dick Clark Productions owns, it's an amazing pool of past shows and existing specials to draw from, put together and remash into all sorts of possibilities. This should provide RedZone with a constant stream of income for years.
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