Daniel Snyder, the diminutive billionaire owner of the Washing Redskins, bought Dick Clark Productions earlier today for a reported $175 million. Dick Clark Productions produces the FOX hit So You Think You Can Dance
, as well as other television staples, such as Dick Clark's New Year's Rockin' Eve and the Golden Globe Awards. Snyder's acquisition of the franchises shouldn't mean much in terms of the content of the shows, but it could very well change their visibility.
Daniel Snyder's Red Zone Capital Fund has been on a purchasing tear in recent years. Aside from buying the Redskins in what was, at the time, the most expensive sports franchise transaction on history (roughly $800 million), Snyder acts as Chairman of the Board for Six Flags and owns the Johnny Rocket restaurant franchise. There is word that Snyder might use his multiple organizations for cross-promoting, which means there's chance we'll all be seeing “So You Think You Can Dance: The Ride” quite soon (or, perhaps, “Mary Murphy's Haunted Liver”).
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Snyder's take over of Dick Clark Productions is not his first venture into the entertainment industry. He recently teamed with Tom Cruise and producing partner Paula Wagner to help co-finance some of their films (putting up anywhere between $3 and $10 million of his own money). NBC has four more years on their deal with Dick Clark Productions to produce the Golden Globes, which is a certifiable cash cow.
It will be interesting to see what direction Snyder takes with his new play thing. He is notoriously impatient (see: Redskins signings of Deion Sanders, Steve Spurrier, Jeff George, Bruce Smith, et al) and is not one to tolerate failure. Will he strive to produce more original programming, or simply do his best to squeeze profits out of the shows he already has? No word on what Dick Clark himself has to say about the transaction just yet, so let's just assume he's for it.
-Oscar Dahl, BuddyTV Senior Writer
(Image Courtesy of PLU.edu)