Dick Clark Prods., Media Rights Capital, THR-Billboard Eyed for Merger (Report)

Todd Boehly
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Dick Clark Productions, Media Rights Capital and the Hollywood Reporter-Billboard Media Group could find themselves operating under the same roof.

Todd Boehly is contemplating a merger to bring all three companies together under a new entity controlled by his firm, Eldridge Industries, according to a Financial Times report Friday. The rationale for the restructuring, which would still see each business operate independently, would be either setting up the combined entity for a sale or to cut costs.

Boehly, who previously served as president of private-equity giant Guggenheim Partners, already owns Golden Globes Awards producer DCP and THR-Billboard and owns a stake in MRC, producer of movies and TV series including Netflix’s “House of Cards” and “Ozark” and Seth MacFarlane’s “Ted.” He is also an investor in the Los Angeles Dodgers, which is not part of the deal.

While not a done deal as of yet, the move comes in the wake of the collapse of the $1 billion deal Boehly struck to sell DCP to Dalian Wanda. Boehly has been shopping both DCP and THR-Billboard since last year with investment bankers Moelis and Goldman Sachs on board, but no takers as of yet.

What synergies could be leveraged through the merger and what price tag the combined assets could fetch are open questions. Neither MRC nor DCP is expected to command anywhere near the $1 billion Dalian Wanda previous offered; the latter deal was understood to value that company at $700 million in addition to debt.  MRC, which was recently rocked by the Kevin Spacey controversy that made the upcoming season of “Cards” its last at Netflix, has been hit with recent executive defections as well.

Reps for Boehly and MRC have yet to respond to requests for comment.