with Keshet International to start out a joint venture to bring Keshet's unscripted properties to the North American market, entitled Keshet-DCP. In 2014, DCP took over production of the Billboard Music Awards, an awards show presented by Guggengeim-owned Billboard magazine. In July 2014, DCP settled a lawsuit with the Hollywood Foreign Press Association over its contracts with NBC to broadcast the Golden Globe Awards. On December 17, 2015, in response to losses across Guggenheim Partners, the company announced that it would spin out its media properties, including Dick Clark Productions, to a group led by its former president Todd Boehly. Variety reported that CEO Allen Shapiro was "likely to be a key player in the spinoff, given his experience in running entertainment firms". Boehly's stake is represented by Eldridge Industries. In September 2016, it was reported that the Chinese conglomerate Wanda Group (which owns AMC Theatres and Legendary Entertainment) was in talks to acquire Dick Clark Productions. This was confirmed on November 4, 2016, when Wanda Group announced the purchase for $1 billion. On February 20, 2017, Bloomberg News reported that the sale was facing regulatory issues in China. On March 10, 2017, an Eldridge Industries spokesperson stated that the sale had been scrapped. DCP received $50 million from Wanda Group in breakup and extension fees. The studio later sold Chinese rights to the Golden Globes and New Year's Rockin' Eve to STX Entertainment. On February 1, 2018, DCP merged with Billboard-Hollywood Reporter Media Group and Media Rights Capital to form Valence Media. Mike Mahan was appointed CEO of DCP. In November 2019, the company's COO and CFO Amy Thurlow became president of Dick Clark Productions, with Mike Mahan expected to become a vice chairman in 2020. In July 2020, Valence was rebranded as MRC, with Dick Clark Productions operating as a label of its non-scripted division MRC Live & Alternative. Thurlow stepped down from DCP in June 2021. In September 2021, the Dick Clark Productions name was discontinued, with all of its productions now falling under the MRC Live & Alternative banner. In August 2022, Eldridge and MRC's co-CEOs Modi Wiczyk and Asif Satchu agreed to divide the company's assets, effectively undoing the 2018 deal that created Valence Media. Among other assets, Eldridge re-acquired the MRC Live & Alternative division and announced it would restore the Dick Clark Productions name to the unit. References External links 1957 establishments in