Owner of THR and Billboard Receives Unsolicited Interest in Part of Business

"A strategic review of Eldridge's media holdings."

billboard hollywood reporter david bowieEldridge Industries, the owner of The Hollywood Reporter, Billboard and Dick Clark Productions, has hired two investment banks to conduct reviews of the brands.

The move was prompted by a separate party, who inquired about one of the three companies.

“Recently, Eldridge Industries received unsolicited interest in one of its media assets,” Eldridge Industries owner and CEO Todd Boehly told Reuters. “This led us to hire Moelis and Co. and Goldman Sachs Group Inc. to conduct a strategic review of Eldridge’s media holdings.”

Boehly added that the outcome of the review could result in acquisitions, partnerships or an outright sale.

Publish date: June 21, 2016 https://dev.adweek.com/digital/thr-and-billboard-might-be-for-sale/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT