UPDATED: Dick Clark Productions announced layoffs today, two weeks after the production company was acquired by Penske Media Eldridge, a subsidiary of PMC and a joint venture between Penske Media Corporation and Eldridge.
“As we continue to evolve DCP’s current business model and invest in the company’s long-term growth, changes are necessary to ensure a sustainable path forward,” PMC spokeswoman Brooke Jaffe said in a statement to Deadline, which located is located in the possession of PMC rejected. Note.
Sources say the cuts were widespread, affecting about 16 people, some of whom took to social media to share the news. This is an estimated 15% of the company’s workforce, which was laid off in a round of layoffs a year ago. I heard the cuts were widespread and affected all parts of the company, including senior management at various levels. They succeed dcp chairman Adam Stotsky, whose departure from the acquisition was announced last month.
I understand the new owners are to meet with dcp staff on monday.
dcp is recognized as the largest owner and producer of live entertainment programs on television, including the Golden Globes, American Music Awards, Academy of Country Music Awards, and Billboard Music Awards Dick Clark’s New Year’s Eve.
Source: Deadline
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