Dick Clark Productions Hit By Layoffs Following Acquisition – Deadline
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UPDATED: Dick Clark Productions underwent layoffs right now, two weeks after the manufacturing firm was acquired by Penske Media Eldridge, a PMC subsidiary and three way partnership between Penske Media Company and Eldridge.
“As we glance to evolve dcp’s present enterprise mannequin and put money into the corporate’s long-term development, change is crucial to make sure an everlasting path ahead,” PMC spokesperson Brooke Jaffe stated in a press release to Deadline, which is owned by PMC, declining additional remark.
Based on sources, the cuts have been deep, affecting about 16 folks, a few of whom took to social media to share the information. That’s believed to be roughly 15% of the corporate’s workforce, which already had been diminished by a spherical of layoffs a yr in the past. I hear the cuts have been throughout the board, impacting all areas of the corporate, together with executives of assorted ranges. They observe dcp president Adam Stotsky whose exit was introduced on the time of the acquisition final month.
The brand new homeowners are anticipated to fulfill with dcp workers on Monday, I hear.
dcp is taken into account the most important proprietor and producer of televised dwell leisure programming, together with the Golden Globes, American Music Awards, Academy of Nation Music Awards, Billboard Music Awards and Dick Clark’s New Yr’s Rockin’ Eve.