Eldridge Industries

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Eldridge Industries, LLC
Private equity
Founded 2015; 3 years ago (2015)
Founder Todd Boehly
Headquarters Los Angeles, California, U.S.
Website eldridge.com

Eldridge Industries is a private equity investment holdings firm owned by Todd Boehly, the former president of Guggenheim Partners.[1][2] The company was formed via the corporate spin-off of the media properties of Guggenheim subsidiary Prometheus Global Media announced on December 17, 2015.[3][4][5]

History

On July 17, 2016, Adweek was sold to the private equity firm Beringer Capital.[6]

In December 2016, Eldridge acquired SpinMedia via The Hollywood Reporter-Billboard Media Group for an undisclosed amount.[7]

In March 2017, Eldridge led a $100 million round of Series E1 funding by DraftKings.[1]

In August 2017, the Clio Awards were sold to Evolution Media.[8]

On February 1, 2018, Eldridge Industries announced that it would merge its media holdings with Media Rights Capital to form a new entity known as Valence Media, which will be led by MRC's co-founders Asif Satchu and Modi Wiczyk. Of the merger, Wiczyk stated that the intent of this arrangement was to construct tighter synergies between the properties, drawing upon the combined company's expertise in live events, media, and content. The companies comprising Valence will retain their existing leadership, and Billboard-Hollywood Reporter Media Group will maintain editorial independence. Valence will also oversee Eldridge's minority stake in film studio A24.[9][10]

Holdings

References

  1. ^ a b "Dodgers' Boehly Leads $100 Million DraftKings Investment". Bloomberg. Retrieved 10 March 2017. 
  2. ^ "About Us". Eldridge.com. 
  3. ^ "Guggenheim Prepares To Sell Hollywood Reporter, Dick Clark Productions To Exec". Deadline.com. Retrieved 18 December 2015. 
  4. ^ "Guggenheim Media Spins Off Money-Losing Hollywood Reporter, Billboard to Company President Todd Boehly (Exclusive)". The Wrap. Retrieved 18 December 2015. 
  5. ^ "Hollywood Reporter Parent Company Spins Off Media Assets to Executive". The Hollywood Reporter. Retrieved 3 January 2016. 
  6. ^ "Adweek acquired by private equity firm Beringer Capital". TechCrunch. Retrieved 19 July 2016. 
  7. ^ "Billboard Buys Spin and Vibe in a Quest to 'Own the Topic of Music Online'". Adweek. Retrieved 10 March 2017. 
  8. ^ "Clio Awards Acquired by Global Investment Firm Evolution Media". Adweek. Retrieved 2018-03-29. 
  9. ^ Faughnder, Ryan. "'House of Cards' producer MRC merges with Dick Clark Productions and Hollywood Reporter publisher". Los Angeles Times. Retrieved 2018-03-29. 
  10. ^ Wallenstein, Andrew (2018-02-01). "Media Rights Capital, Dick Clark Prods., THR-Billboard Form Combined Company". Variety. Retrieved 2018-03-29. 

External links

  • Official website
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