It sounds like Cheryl Burke and Matthew Lawrence’s split may have been way nastier than we ever realized!!
05.08.2022 - 23:55 / deadline.com
Eldridge and MRC said today that they have completed the separation of combined media assets.
MRC, led by founders and co-CEOs Modi Wiczyk and Asif Satchu, will retain and control its existing operations as the leading independent studio, with three divisions: Film, Television and Non-Fiction. MRC also will retain its stakes in Civic Center Media and T-Street.
Eldridge will retain dick clark productions and investments in South by Southwest, A24, Fulwell 73, Sugar 23 and Luminate, as well as the Penske Media Corporation — which includes Deadline, The Hollywood Reporter, Variety, Billboard, Rolling Stone, Vibe, Music Business Worldwide, Life is Beautiful. Eldridge also will remain as a significant minority shareholder in MRC.
“When we combined forces in 2018, we set out to accomplish an ambitious set of objectives. We are immensely proud of our team’s resulting success. The Live & Alternative group changed the model for awards shows, bringing them into the streaming age. Our Film, Television and Non-Fiction studio businesses have all experienced a quadrupling of their slates. And our minority holdings have enjoyed wonderful periods of growth,” said Satchu and Wiczyk. “We thank Eldridge for their continued partnership and wish all of our colleagues the very best for the future.”
HFPA Names MRC Chairman Todd Boehly As Interim CEO
Said Todd Boehly, co-founder, chairman and CEO of Eldridge: “The announcement today marks a significant milestone for Eldridge and MRC, representing our commitment to building successful brands in the industry. We are excited by the teams and strategy across our investments in digital media, film and TV production, focused on bringing thoughtful and dynamic storytelling to audiences across multiple
It sounds like Cheryl Burke and Matthew Lawrence’s split may have been way nastier than we ever realized!!
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The MRC Entertainment has separated its media assets from Todd Boehly’s Eldridge Industries in a reorg in which MRC co-CEOs Modi Wiczyk and Asif Satchu will take bigger stakes in production with Eldridge keeping Dick Clark Productions and a Penske Media joint venture. MRC will retain and control its existing operations as a leading independent studio, with three distinct divisions — film, TV and nonfiction. MRC will also retain its stakes in Civic Center Media and T-Street, the companies said Friday in a news release.Eldridge will retain Dick Clark Productions, investments in A24, Fulwell 73, Sugar 23 and Luminate, as well as the Penske Media Corporation, which includes The Hollywood Reporter, Variety, Billboard, Rolling Stone, Deadline Hollywood, Vibe, Music Business Worldwide, Life Is Beautiful and a majority investment in South by Southwest.
William Earl MRC leaders Modi Wiczyk and Asif Satchu and Todd Boehly’s Eldridge holding company have reached a deal to carve up their jointly owned assets into separate business entities.Wiczyk and Satchu will retain the MRC production entity, home to TV series including Netflix’s “Ozark” and Hulu “The Great,” and MRC’s investments in content shops Civic Center Media and T-Street.Eldridge will retain Dick Clark Productions and investments in hot indie studio A24, James Corden and Ben Winston’s Fulwell 73, Michael Sugar’s Sugar 23 and audience data firm Luminate. Eldridge also holds on toits minority stake in the PMRC joint venture established in 2020 that is the parent company of Variety, Rolling Stone, Billboard, Vibe, The Hollywood Reporter, Music Business Worldwide, the annual Life is Beautiful music festival and an investment in the SXSW festival franchise that is expanding beyond its Austin, Texas roots next year with an edition in Sydney, Australia.