Seacrest May Buy Dick Clark Productions

by | June 15, 2012 at 6:34 PM | American Idol, Celebrities, TV News

Ryan Seacrest (Frederick M. Brown/Getty Images)


(Reuters) – “American Idol” host Ryan Seacrest is considering a bid to buy Dick Clark Productions, the company founded by the late TV icon and Seacrest’s mentor, people with knowledge of the matter said.

Ryan Seacrest Media is among the potential bidders who have requested information from Raine Group, which was retained by Dick Clark Productions to run a possible sale.

A Seacrest spokeswoman had no comment.

Seacrest, 37, is building a media empire through his own production company. Aside from “Idol,” he hosts a morning radio show, produces “Keeping Up with the Kardashians” for the E! cable TV network and will contribute to NBC’s “Today” show and summer Olympics coverage.

In January, Thomas H. Lee Partners and Bain Capital, which control Clear Channel Communications, announced a $300 million commitment to acquire and develop properties with Seacrest’s company. Clear Channel also took a minority stake in Seacrest’s company.

DCP retained Raine after a judge in April ruled in favor of the company’s deal to keep the Golden Globe Awards that it produces on NBC through 2018.

The Hollywood Foreign Press Association, the group that gives out the TV and film awards, had argued that it should have been consulted before the deal was made.

In addition to the Golden Globes, Dick Clark Productions produces other awards shows, including the American Music Awards, dancing competition “So You Think You Can Dance” and “Dick Clark’s New Year’s Rockin’ Eve.”

Clark, who founded the company in 1957, sold his majority stake to Mosaic Media Group in 2002. Dick Clark Productions is now owned by Red Zone Capital, the private equity firm of Washington Redskins owner Daniel Snyder.

Seacrest also partnered in January with Mark Cuban’s HDNet and others to rebrand the channel as AXS TV, a network that will air live entertainment and lifestyle programming.

Seacrest co-hosted “New Year’s Rockin’ Eve” in recent years with Clark. When Clark died in April, Seacrest described him as “one of the greatest influences of my life.”