Private equity firm closes in on deal
Dick Clark Prods. may soon have a new home as private equity firm Guggenheim Partners closes in on a deal, according to news reports Thursday.
Guggenheim, based in Gotham and Chicago, has about $160 billion under management and is an owner of Prometheus Global Media, parent of the Hollywood Reporter and Billboard group.
A consortium including Ryan Seacrest had been circling the company, founded by Dick Clark in 1957. CBS Corp. was also in the mix.
Clark, who died last spring at 82, sold his stake in 2002 to Red Zone Capital, the private equity firm of Washington Redskins owner Daniel Snyder.
Besides its annual New Year’s Eve special, the company’s shows include “The Golden Globes,” “So You Think You Can Dance” and the “Miss Universe” and “Miss USA” pageants.