Dick Clark Left Legacy, Huge Estate


When America’s oldest teenager passed away yesterday at the age of 82, he left more than legacy of music and television achievements. He left a huge fortune.

The former host of American Bandstand and TV’s Bloopers and Practical Jokes was a savvy businessman whose career spanned television, concerts, awards shows and radio.

Fran La Maina, president of Dick Clark Productions Inc., told the Associated Press that the man who launched the American Music Awards and was an annual feature on New Year’s Rockin’ Eve left a estate valued at “hundreds of millions of dollars.”

Clark was one of the first television stars to create a public company driven by his own celebrity. Dick Clark Productions developed numerous television shows and specials, including Swingin’ Country, Where the Action Is and American Bandstand. Clark managed to develop and host TV shows while simultaneously running popular syndicated radio shows like Dick Clark’s Countdown and Rock, Roll & Remember.

Not surprisingly, La Mania described him as having “boundless energy.”

Dick Clark Productions went public in 1987. However, after growing frustrated with Wall Street, Clark allowed the company to be acquired for $140 million by an investment group led by Mosaic Media Group in 2002. After the company went private, Clark sold some of his stake, but remained CEO.

After RedZone Capital acquired the company for $175 million in 2007 — three years after Clark suffered a debilitating stroke — Clark sold his remaining stake in the company and withdrew from day-to-day operations.

Clark’s other holdings reportedly include millions of dollars of Malibu, Calif., real estate.

Article printed from InvestorPlace Media, https://investorplace.com/2012/04/dick-clark-left-legacy-huge-estate/.

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