During the past decade, Ryan Seacrest has become a household name. The popular radio personality, host of American Idol and entertainment producer also is building a media empire. Industry insiders recently told The Wall Street Journal that the media mogul is considering adding Dick Clark Productions to the list of business ventures owned by his investment firm, Ryan Seacrest Media.
The company founded by the legendary Dick Clark, a man Seacrest considered a colleague, mentor and friend, is the maker of several award shows, including News Corp (NASDAQ:NWSA) subsidiary Fox Network’s So You Think You Can Dance, and Disney (NYSE:DIS) subsidiary ABC’s annual New Year’s Eve program.
Dick Clark Productions is currently controlled by RedZone Capital Management, which partnered with theme-park operator Six Flags Entertainment (NYSE:SIX) in 2007 to purchase the production company for $175 million. The company now makes about $35 million (before taxes, interest, depreciation and amortization) annually and is expected to sell for several hundred million dollars, the WSJ said.
If Seacrest does place a bid, he’s expected to encounter competition from private-equity firm Colony Capital, which owns Hollywood studio Miramax, WSJ reported.
In addition to hosting and producing various TV and radio programs, Seacrest has made deals with Clear Channel Communications, NBCUniversal Media and other companies. Most recently, Seacrest struck a deal with Zynga (NASDAQ:ZNGA) and CBS (NYSE:CBS) to host the new game show Draw Something.