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dick clark productions Cashes In

In a $140 million deal, dick clark productions is being acquired by a group of investors including TV executive Jules Haimovitz, Mosaic Media Group and CDP Capital Entertainment. Clark will remain chairman/CEO, his right-hand man Francis La Maina will remain president/COO. Haimovitz will become vice chairman. Company stockholders are to receive $14.50 per share in cash. Clark, who owns 70 percent of the company, will receive $12.50 per share in cash.

dick clark productions, founded in 1957, produces the American Music Awards and other TV events.