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.
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