Hefner may bid on TV production company founded by Dick Clark
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Updated:
By NEWSCORE
NEW YORK -
They are both entertainment icons who refused to act their age -- but the similarities end there.
Playboy Enterprises, headed by the eternally young Hugh Hefner, is weighing a bid for Dick Clark Productions (DCP), whose late founder was nicknamed "America's Oldest Teenager," The New York Post has learned.
Playboy -- which Hefner, 86, took private last year with Rizvi Traverse Management -- is among a number of suitors that have expressed an interest in DCP, controlled by investment firm RedZone Capital, sources said.
Clark, who died in April at the age of 82, had no financial stake in DCP.
The potential combination -- considered a long shot by most observers -- would put the TV-production company behind squeaky clean shows such as "So You Think You Can Dance" under the same roof as the adult-entertainment company responsible for "Naked Happy Girls."
RedZone, co-founded by Washington Redskins owner Dan Snyder, has hired investment bank Raine Group to explore a possible sale of the company, which also produces "Dick Clark's New Year's Rockin' Eve," as well as the Golden Globes.
A spokeswoman for Playboy told the Post, "We have not expressed an interest in the company." Rizvi declined to comment and Raine could be reached for comment.
Playboy, which had a huge pile of cash when it went private last year, could be competing with some deep-pocketed rivals.
"American Idol" host Ryan Seacrest's production company is also said to be interested in DCP. Clark was a mentor to Seacrest, who co-hosted the New Year's Eve show.
Apollo Global-backed Core Media, formerly CKX, is also in the mix. Core, run by former NBC West Coast business chief Marc Graboff, also has an ownership in "American Idol" via its 19 Entertainment production company.
DCP is looking for a valuation in the range of $350 million to $400 million, although some sources believe that price is too high. Red Zone acquired its stake for around $175 million in 2007.
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