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Productions has a few new owners in a -- was finalized -- -- Mandalay entertainment Guggenheim partners and mosaic media.
Are paying 370 million dollars for the media company -- -- Peter Guber is the chairman and CEO of Mandalay entertainment.
And one of the new owners of Dick Clark productions he joins us now what do Fox Business exclusive.
-- have friends in high places good to see it Peter thanks for competitive so -- didn't explain what you're involvement is in always.
Well our company.
Made an investment together with the Guggenheim out of Li I mean lead investor and mosaic.
To -- the Dick Clark company and all the assets -- the car company and five or six years ago I was the chairman and also largest shareholders back company when it was sold to red zone which -- -- side who also owns the Washington Redskins.
Company they really move the meter on that company in terms of revenue.
And it's it's grown in the marketplace and we thought it was an opportune time to get these assets and took advantage of OK well.
They by the way were able double what they paid you for work several years ago right.
That's correct but they also their revenues -- -- more than double okay and during that time so what makes the Dick Clark a brand is so valuable.
What do is a bouquet of assets that are unique in the marketplace today this -- is today.
Because they have ten -- event assets the Golden Globes -- certainly had major asset they have six figure advance on fox.
They have the American music awards they have the country western music awards.
They have all these awards shows and together with the other assets -- involve ago and I'm from -- assets like billboard music awards and Cleo is.
They own five of the ten largest event shows have -- up brand aggregators.
Brands and networks and distributors want those kinds of assets that -- really not able to be.
Copyright stolen they're not really able to be anything but.
Live events you have to tune in dog he can't -- can't DVR them you cam but they're not -- the same vitality and best social networks.
Absolute lightning rods when you put all those three things together they have the perfect storm assets that continue to grow and build a media company.
Right now -- considers the -- say he had the vitality.
A lot of people thought that the Dick Clark brand was getting old but you say no way.
Well all of those brands of 25 and thirty years all the -- -- on the business attitudes of all the bumps in the economy all the changes in media and -- stronger than ever I mean that's why we we bottom because they.
-- give you leverage with the distributor they bring brands to them -- -- social audiences all the social networks use them.
And they have ratings are terrific and never know all possibilities when all the networks you have leverage you have assets in heaven -- and -- -- well.
Peter you have Mandalay films you have all those Minor League Baseball teams and BA Golden State Warriors you have now the F played Dodgers and this.
How how do you manage all -- you -- spread -- -- Doping either I feel like a Bulgarian -- trial had Bulgarian -- at 120 very Douglas perfectly but you know something.
What better thing to doing a third act but they have fun.
Are right and finally -- these -- Diddy Diddy at all brought her was at a foul ball the other night.
Well he he's got a movie coming out as a matter of fact they have about called throwing -- current.
But the truth is Clint Eastwood is an iconic Fallon and you know everybody loves image a locked asked about the ratings -- dean -- them around the -- had.
He owns it and so I think -- -- did I don't think it was a foul ball I just think it was part of his iconic character and I think he's loved them beloved as an artisans country.
-- lot for what it's worth I loved it anyway Peter go over great to see a congratulations.
Rhonda on the purchase -- like -- Peter -- for Mandalay entertainment the chairman and CEO --
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