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Eldridge Industries

  (Redirected from Valence Media)

Eldridge Industries LLC is a private equity investment firm headquartered in Greenwich, Connecticut, with offices in New York, London and Beverly Hills.[1][2][3][4] The firm invests in businesses across several industries, including, media, sports, hospitality, insurance, real estate development and asset management.[1][5][6][7]

Eldridge Industries, LLC
Private equity
Founded2015; 3 years ago (2015)
FounderTodd Boehly
Headquarters,
U.S.
Websiteeldridge.com

Contents

HistoryEdit

Eldridge was formed in 2015 by CEO and Chairman Todd Boehly and President Anthony D. Minella, after Boehly purchased several media properties controlled by Guggenheim Partners.[7][4]

Eldridge has invested in businesses including Security Benefit Life Insurance, London-based real estate firm Cain International, media entity Valence Media, CBAM, Stonebriar Commercial Finance, and NPC International, operator of Wendy’s and Pizza Hut units in the U.S.[8][9][10][11][12][13]

In March 2017, Eldridge led a round of funding estimated at over $100 million for DraftKings, a daily fantasy sports contest provider.[2][14] The firm also provided financing to Prescient, a building technology platform, for $50 million in July 2018.[15]

Eldridge seeded Essential Properties Realty Trust, a REIT that went public in June 2018 under the symbol NYSEEPRT.[16]

In 2018, Eldridge also became a partner for the Global Citizen Festival, which is being held in South Africa to honor the life and legacy of Nelson Mandela in his centenary year.[17]

Media holdingsEdit

In 2015, Eldridge put some of its media properties up for sale, including Adweek and the Clio Awards.[18] Adweek was sold a year later to Beringer Capital, a private equity firm that invests in digital media and marketing services.[19] The Clio Awards, a 58-year-old ad industry event, was sold to investment company Evolution Media in 2017.[20]

In December 2016, Billboard-Hollywood Reporter Media Group purchased the music publications Spin, Stereogum and Vibe from SpinMedia for an undisclosed amount.[21]

In February 2018, Eldridge announced it would be consolidating three of its entertainment properties into a new company, Valence Media. The properties included Media Rights Capital (MRC), an independent movie and TV production company; Dick Clark Productions, producer of the Golden Globe Awards and American Music Awards; and the Billboard-Hollywood Reporter Media Group, which includes The Hollywood Reporter and Billboard industry trade publications.[9][22][23]

MRC’s co-founders Asif Satchu and Modi Wiczyk serve as co-CEOs of Valence and Boehly serves as Chairman.[22][24] Valence also owns a minority stake in film distributor A24.[23]

ReferencesEdit

  1. ^ a b c "Company Overview of Eldridge Industries LLC". Bloomberg L.P. August 16, 2018.
  2. ^ a b "Dodgers' Boehly Leads $100 Million DraftKings Investment". Bloomberg. Retrieved 10 March 2017.
  3. ^ "About Us". Eldridge.com.
  4. ^ a b "Eldridge Industries". Crunchbase. Retrieved September 2, 2018.
  5. ^ "Guggenheim Prepares To Sell Hollywood Reporter, Dick Clark Productions To Exec". Deadline.com. Retrieved 18 December 2015.
  6. ^ "Guggenheim Media Spins Off Money-Losing Hollywood Reporter, Billboard to Company President Todd Boehly (Exclusive)". The Wrap. Retrieved 18 December 2015.
  7. ^ a b "Hollywood Reporter Parent Company Spins Off Media Assets to Executive". The Hollywood Reporter. Retrieved 3 January 2016.
  8. ^ Leon Lazaroff (February 23, 2017). "Dick Clark Productions Deal Expected to Close in Coming Weeks". TheStreet.com.
  9. ^ a b Wallenstein, Andrew (2018-02-01). "Media Rights Capital, Dick Clark Prods., THR-Billboard Form Combined Company". Variety. Retrieved 2018-03-29.
  10. ^ John Gittelsohn and Patrick Clark (August 17, 2018). "Dodgers Co-Owner Takes Stake in Beverly Hilton Hotel". Bloomberg L.P.
  11. ^ Glen Fest (November 17, 2017). "CLO Roundup: CBAM marketing its fourth $1B CLO of the year". American Banker.
  12. ^ "Stonebriar Commercial Finance Closes a $20 million Turn-Key Facility Lease". Stonebriar Commercial Finance. January 8, 2018.
  13. ^ Ron Ruggless (June 28, 2018). "NPC restructures, names Steve Layt to head Pizza Hut division". Nation's Restaurant News.
  14. ^ Curt Woodward (March 9, 2017). "Another $100 million in financing for DraftKings". The Boston Globe.
  15. ^ Iris Dorbian (July 23, 2018). "Prescient snags $50 mln Series E". PE Hub.
  16. ^ Kristy Westgard (June 21, 2018). "'Retail Apocalypse' Didn't Scare This Landlord Off an IPO". Bloomberg L.P.
  17. ^ Lexy Perez (July 9, 2018). "Beyonce, Jay-Z Among Headliners at Global Citizen Festival Honoring Nelson Mandela Centennial". The Hollywood Reporter.
  18. ^ Keith J. Kelly (May 31, 2016). "AdWeek, Clio Awards put up for sale". New York Post.
  19. ^ "Adweek acquired by private equity firm Beringer Capital". TechCrunch. Retrieved 19 July 2016.
  20. ^ "Clio Awards Acquired by Global Investment Firm Evolution Media". Adweek. Retrieved 2018-03-29.
  21. ^ "Hollywood Reporter-Billboard Group acquires Spin, Vibe and Stereogum". The Los Angeles Times. December 23, 2016. Retrieved December 13, 2018.
  22. ^ a b Faughnder, Ryan. "'House of Cards' producer MRC merges with Dick Clark Productions and Hollywood Reporter publisher". Los Angeles Times. Retrieved 2018-03-29.
  23. ^ a b Diane Haithman (February 2, 2018). "Billboard-Hollywood Reporter, Dick Clark Productions and MRC Merge as Valence Media". Los Angeles Business Journal.
  24. ^ Tony Maglio (February 1, 2018). "THR to Combine With Dick Clark Productions, 'House of Cards' Studio in New Todd Boehly Banner". TheWrap.

External linksEdit