MRC Parts Ways With Todd Boehly’s Eldridge and PMRC
thewrap.comThe 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.
Eldridge will also remain as a significant minority shareholder in MRC. “When we combined forces in 2018, we set out to accomplish an ambitious set of objectives.
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