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Eldridge Industries is a private equity investment holdings firm owned by Todd Boehly, the former president of Guggenheim Partners.[1][2] The company was formed via the corporate spin-off of the media properties of Guggenheim subsidiary Prometheus Global Media announced on December 17, 2015.[3][4][5]

History

On July 17, 2016, Adweek was sold to the private equity firm Beringer Capital.[6]

In December 2016, Eldridge acquired SpinMedia via The Hollywood Reporter-Billboard Media Group for an undisclosed amount.[7]

In March 2017, Eldridge led a $100 million round of Series E1 funding by DraftKings.[1]

In August 2017, the Clio Awards were sold to Evolution Media[8]

On February 1, 2018, Eldridge Industries announced that it would merge its media holdings with Media Rights Capital to form a new entity known as Valence Media, which will be led by MRC's co-founders Asif Satchu and Modi Wiczyk. Of the merger, Wiczyk stated that the intent of this arrangement was to construct tighter synergies between the properties, drawing upon the combined company's expertise in live events, media, and content. The companies comprising Valence will retain their existing leadership, and Billboard-Hollywood Reporter Media Group will maintain editorial independence. Valence will also oversee Eldridge's minority stake in film studio A24.[9][10]

Holdings

References

External links