Eldridge & MRC Separate Their Combined Media Assets

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Eldridge and MRC said today they have completed the separation of combined media assets.

MRC, led by founders and co-CEOs Modi Wiczyk and Asif Satchu, will maintain and control its existing operations as the leading independent studio, with three divisions: film, television and nonfiction. MRC also retains its interests in Civic Center Media and T-Street.

Eldridge will retain Dick Clark productions and investments in South by Southwest, A24, Fulwell 73, Sugar 23 and Luminate, as well as the Penske Media Corporation – including TBEN, The Hollywood Reporter, Variety, Billboard, Rolling Stone, Vibe, Music Business Worldwide it is live beautiful. Eldridge also remains a major minority shareholder in MRC.

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“When we joined forces in 2018, we set out to achieve an ambitious set of goals. We are extremely proud of the resulting success of our team. The Live & Alternative group changed the model for awards shows and brought them into the streaming era. Our film, television and non-fiction studios have all experienced a quadrupling of their slates. And our minority interests have had some wonderful periods of growth,” said Satchu and Wiczyk. “We thank Eldridge for their continued collaboration and wish all our colleagues all the best for the future.”

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Todd Boehly, Co-Founder, Chairman and CEO of Eldridge said: “Today’s announcement marks an important milestone for Eldridge and MRC, representing our commitment to building successful brands in the industry. We are excited about the teams and the strategy of our investments in digital media, film and TV production, focused on bringing thoughtful and dynamic stories to audiences across multiple platforms and through the power of live entertainment.”

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A transition structure will be implemented in the coming months.

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