Dick Clark Productions purchased
A pair of major investors-Mosaic Media Group and Capitol Communications CDPQ-have agreed to buy Dick Clark Productions for roughly $140 million in cash. Mr. Clark, who will remain as chairman of Dick Clark Productions, will be joined by CDP Capitol principal and longtime Hollywood studio executive Jules Haimovitz as vice chairman of DCP.
Under terms of the deal, shareholders of Dick Clark Productions-other than Mr. Clark himself-will receive $14.50 per share. Mr. Clark, who is estimated to hold 70 percent of the shares in his company, will be getting $12.50 per share in cash for a portion of his holdings and will invest the remainder of his stake-along with DCP President and CEO Francis LaMaina-in the acquiring entity (Mosaic Media Group). Henry Winterstern, co-founder and managing partner of CDP Capital Entertainment, will also invest in the acquiring entity. The transaction is subject to the approval of Dick Clark Productions’ shareholders and is expected to close within 90 days.
Dick Clark Productions has produced such perennial hits as “Dick Clark’s New Year’s Rockin’ Eve,” the “American Music Awards,” “The Golden Globe Awards,” the “Bloopers” specials and series and the “Daytime Emmy Awards.”
The `Wayne Brady’ bunch
Former executive producer of “Late Night With David Letterman” Robert Morton will serve in the same capacity on Buena Vista’s upcoming talk/variety hour “The Wayne Brady Show.” Mr. Morton will oversee the strip with Bernie Brillstein, also executive producer of the show. “We’re thrilled to have a producer of this caliber helming `The Wayne Brady Show,”’ said Janice Marinelli, president of Buena Vista Television. The series is cleared on all the ABC owned-and-operated stations and will feature a showcase of comedic, musical and improvisational talents as well as celebrity interviews and audience interaction.
Kids’ WB renews animated series
Kids’ WB, the top-rated Saturday morning children’s broadcast network, has formalized the 2002-03 season renewals for the next-generation of “Pokemon: Master Quest” and the hit series “Jackie Chan Adventures, “X-Men Evolution,” “The Mummy: Secrets of the Medja” and “Rescue Heroes: Global Heroes.” The renewals, announced by Donna Friedman, executive VP of the Kids’ WB, come in advance of the expected opening of the kids upfront advertising market in mid-March.
WB to start `Felicity’ final run in March
The WB has set “Felicity” to return for the end of its fourth and final season starting Wednesday, March 20 (9 p.m. to 10 p.m. ET), through a sweeps-targeted ending May 22. “Felicity” has been off the air since its winter finale in December to make room for the new Kevin Williamson suspense thriller “Glory Days.” Starting on March 11, “Glory Days” will temporarily move into the coveted Monday 9 p.m.-to-10 p.m. lead-out time slot after The WB’s top-rated “7th Heaven” drama. Displaced Monday night drama “Angel” will return to its regular berth on April 15 with all-new episodes through the season finale in May.
Robert De Niro has been signed by CBS to host “9/11,” the exclusive behind-the-scenes video account of the terrorist attacks on New York’s World Trade Center towers. The eyewitness story, shot by French filmmakers Gedeon and Jules Naudet, will be broadcast by CBS as a special two-hour presentation on Sunday, March 10. … Former UPN President Dean Valentine reportedly settled the lawsuit he filed against his own network, claiming he was owed as much as $22 million under a contract he said was never finalized but was nonetheless breached. Mr. Valentine’s settlement is said to be in the neighborhood of $11 million. … ABC has renewed Steven Bochco’s “NYPD Blue” for a 10th season. The longtime ABC drama staple, which was moved into the 9 p.m.-to-10 p.m. (ET) Tuesday time slot this season, has remained a consistent tentpole for the network. Since premiering in the 9 p.m. Tuesday slot last September, “NYPD Blue” has remained the top-ranked drama on the night among adults 18 to 49, averaging a 5.0 rating/12 share this season.
Feb 18, 2002 • Post A Comment
Dick Clark Productions purchased