Todd Boehly's Eldridge expected to buy MRC Live & Alternative
Todd Boehly's holding company Eldridge is buying MRC Live & Alternative, the production studio formerly known as Dick Clark Productions, Puck's Matthew Belloni reports.
Why it matters: The studio produces Dick Clark's New Year's Rockin' Eve, the Golden Globes and other entertainment and awards shows — a sector that has been struggling with decreased viewership.
- The Globes has been navigating an ongoing crisis due to the Hollywood Foreign Press Association's (HFPA) lack of diversity. It did not broadcast live this year.
Details: Boehly is the chairman of MRC, which owns MRC Live & Alternative, and was named interim CEO of the HFPA last year. He's the new owner of English soccer club Chelsea F.C. and is a part owner of the Los Angeles Dodgers and the Los Angeles Lakers.
- No price was named. Belloni noted that Wanda Group had agreed to pay $1 billion on the studio in 2017, though the deal was terminated.
- "Given the recent decline in awards show viewership, DCP likely is not worth anywhere near that number (if it ever was), but Boehly apparently believes it's more valuable without the rest of MRC tacked on," Belloni writes.
- MRC declined to comment.