The End of Another Era, Dick Clark Productions Sold to China's Dalian Wanda Group

by VVN Music

The legacy of Dick Clark Productions started in 1957 as Clark emerged as "America's Youngest Teenager". Through the years, it produced such groundbreaking music shows as American Bandstand, The Dick Clark Show, Where the Action Is, Dick Clark's New Year's Rockin' Eve, The Billboard Music Awards, The Academy of Country Music Awards and The American Music Awards. Outside of music, the company made The Golden GlobesBloopers, Beyond Belief: Fact and Fiction, American Dreams and co-produced So You Think You Can Dance?

It was an all-American company that produce all-American programming.

On Friday, that all-American company became Chinese owned as that country's Dalian Wanda Group purchased it for $1 billion.

This isn't the first time the company has been sold since Clark's death in 2012. Guggenheim Partners bought the company that year for $370 million and was later purchased by Eldridge Industries in 2015.

Xiaoma Lu, CEO of Wanda Investment Company, said "We are excited to partner with such an iconic company and look forward to supporting the management team as they continue to build the company and expand upon its enormous legacy."

The current management of Dick Clark Productions is expected to stay intact under Wanda's control. Dalian Wanda is the world's biggest owner of movie theaters with AMC and Hoyts in its portfolio.

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