By Ronald Grover and Lisa Richwine
LOS ANGELES, June 15 "American Idol" host Ryan
Seacrest and others are considering bids to buy Dick Clark
Productions, the company founded by the late TV icon and
Seacrest's mentor, people with knowledge of the matter said.
Ryan Seacrest Media, Core Media Group and Colony Capital are
among the potential bidders who have requested information from
Raine Group, which was retained by Dick Clark Productions to run
a possible sale.
The sale price could top $300 million, according to one
person familiar with the bidding process.
A Seacrest spokeswoman and a representative for Colony
Capital had no comment. Officials at Core Media Group could not
Seacrest, 37, is building a media empire through his own
production company. Aside from "Idol," he hosts a morning radio
show, produces "Keeping Up with the Kardashians" for the E!
cable TV network and will contribute to NBC's "Today" show and
summer Olympics coverage.
In January, Thomas H. Lee Partners and Bain Capital, which
control Clear Channel Communications, announced a $300 million
commitment to acquire and develop properties with Seacrest's
company. Clear Channel also took a minority stake in Seacrest's
Core Media Group is run by Marc Graboff, former chairman of
NBC Entertainment and Universal Media Studios. The company
co-produces dancing show "So You Think You Can Dance" with Dick
Clark Productions. Colony Capital is an investment firm and an
owner of film studio Miramax.
Dick Clark Productions retained Raine after a judge in April
ruled in favor of the company's deal to keep the Golden Globe
Awards that it produces on NBC through 2018.
The Hollywood Foreign Press Association, the group that
gives out the TV and film awards, had argued that it should have
been consulted before the deal was made.
In addition to the Golden Globes, Dick Clark Productions
produces other shows including the American Music Awards and
"Dick Clark's New Year's Rockin' Eve."
Clark, who founded the company in 1957, sold his majority
stake to Mosaic Media Group in 2002. Dick Clark Productions is
now owned by Red Zone Capital, the private equity firm of
Washington Redskins owner Daniel Snyder.
Seacrest also partnered in January with Mark Cuban's HDNet
and others to rebrand the channel as AXS TV, a network that will
air live entertainment and lifestyle programming.
Seacrest co-hosted "New Year's Rockin' Eve" in recent years
with Clark. When Clark died in April, Seacrest described him as
"one of the greatest influences of my life."