People/Biz

Dalian Wanda Group buys Dick Clark Productions

Chinese real estate and media conglomerate Dalian Wanda Group has purchased Dick Clark Productions (DCP) for US$1 billion, buying  a 100% stake in the producer and proprietor of live event ...
November 4, 2016

Chinese real estate and media conglomerate Dalian Wanda Group has purchased Dick Clark Productions (DCP) for US$1 billion, buying  a 100% stake in the producer and proprietor of live event entertainment programming.

The move marks Wanda’s first foray into the televisions production industry.

Following the completion of the acquisition, DCP’s current management team, which is led by CEO Allen Shapiro, will remain in its entirety.

For its part, DCP will give Wanda access to over 20 renowned TV rights, including the Golden Globe Awards, the American Music Awards, the Billboard Music Awards, the Academy of Country Music Awards, and Dick Clark’s Rockin’ New Year’s Eve special, the majority of which are owned indefinitely. It’s from these broadcasting rights that DCP draws its primary revenue, and it has long-term agreements with all the major TV stations.

In a statement, Wanda said that DCP has an abundant cash flow with a high level of operation stability and steady profit growth.

“As broadcast right fees for art and sports programs increase in the U.S., DCP will further improve its performance and company values,” the statement reads.

 

 

 

About The Author
Barry Walsh is editor and content director for realscreen, and has served as editor of the publication since 2009. With a career in entertainment media that spans two decades, prior to realscreen, he held the associate editor post for now defunct sister publication Boards, which focused on the advertising and commercial production industries. Before Boards, he served as editor of Canadian Music Network, a weekly music industry trade, and as music editor for HMV.com. As content director, he also oversees the development of content for the brand's market-leading events, the Realscreen Summit and Realscreen West, as well as new content initiatives.

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