MRC (company)

History

Early history

MRC was founded by Modi Wiczyk and Asif Satchu in 2006, and its early investors included Guggenheim Partners, AT&T, WPP Group, Goldman Sachs and ABRY Partners. The company was established as a financer-producer, packaging film projects for sale to film studios, and holding ownership stakes in the production.

In 2007, it funded filmmakers such as Robert Rodriguez, Ricky Gervais, Walter Salles, Ryan Murphy, Richard Kelly, Bennett Miller and Todd Field. The same year, it entered into an agreement with Warner Bros. Pictures to allow Warner to distribute three of the eight pictures over a $250 million feature production funding. MRC launched a television division of the studio in early 2008.

In 2008, The CW leased its Sunday-night schedule to MRC beginning in the 2008–09 television season. MRC scheduled the reality show In Harm's Way and the dramas Valentine and Easy Money. In November 2008, after all four shows drew poor viewership, The CW announced that it would withdraw from the agreement. The network returned the Sunday timeslots to its affiliates in the 2009–10 season.

In March 2010, it was reported that MRC had made an offer to acquire Focus Features from Universal Pictures, but that the deal had fallen through. In April of that year, MRC sold the upcoming Seth MacFarlane film Ted to Universal. Later in December, MRC would reach a distribution agreement with Universal, under which it would provide distribution and marketing services for up to 20 MRC films over the next five years. The agreement would give the option for Universal to invest in the films, but was not a first-look deal, and also gave MRC the option to pre-sell distribution rights in specific territories.

After acquiring rights to produce a U.S. remake of the BBC miniseries House of Cards, MRC would sell the series to the streaming service Netflix in 2011.

On February 1, 2018, Eldridge Industries, a holding company owned by former Guggenheim Partners president Todd Boehly, announced that it would contribute its media assets — including The Hollywood Reporter, Dick Clark Productions, and Billboard, and merge them with MRC into a new company known as Valence Media. In October 2018, MRC formed a joint venture with United Talent Agency known as Civic Center Media, which seeks to back projects involving its members via MRC.

2019–2022: Valence Media and PMRC

In December 2019, Valence Media acquired Nielsen Holdings' music data business, with the division being rebranded as MRC Data.

In 2020, Valence Media rebranded as MRC.

PMRCOn September 23, 2020, it was announced that Penske Media Corporation, owner of The Hollywood Reporter's main competitor Variety, would assume operations of the MRC Media & Info publications under a joint venture with MRC known as PMRC. In turn, MRC would form a second joint venture to develop content tied to PMRC publications.

In September 2021, former E! president Adam Stotsky became the new president of MRC Live & Alternative, replacing the outgoing Amy Thurlow. At this time, Dick Clark Productions was folded into MRC Live & Alternative and discontinued as a brand.

2022–present: Unwinding of the Valence merger

In August 2022, Eldridge agreed with Wiczyk and Satchu to divide MRC's assets, effectively undoing the 2018 Valence Media merger. Eldridge re-acquired the company's live and alternative division (which reinstated the Dick Clark Productions banner), as well as MRC's share of the PMRC joint venture, Luminate (the former MRC Data), and investments in studios including A24 and Fulwell 73. The remaining MRC entity, in which Eldridge will retain a minority stake, will retain its scripted film and TV production entity as well as investments in Civic Center Media and T-Street Productions. Wiczyk and Satchu became chairmen of the company in 2023.

SpinMedia

SpinMedia (formerly BuzzMedia) was an American digital publisher that owned a number of pop culture websites, including Spin, Stereogum, Vibe, and The Frisky. It was founded in 1999 by Anthony Batt, Marc Brown, Kevin Woolery, and Steve Haldane under the name Buzznet, and by 2006, Buzznet had a total of nine employees in the Los Angeles, California, area. The BuzzMedia name was created as the company started to acquire more pop-culture and music blogs.

The company acquired Spin Media, publisher of Spin magazine, in July 2012. After shutting down the print version of the magazine, reducing its staff to about 200, and focusing on advertising, it rebranded itself as SpinMedia in March 2013. At that time, Steve Hansen became its chief executive. In April 2013, it acquired Vibe magazine.

In 2014, M/C Partners became the primary owner of SpinMedia after an assignment for benefit of creditors. That year, BuzzMedia had also acquired music sites Property of Zack, AbsolutePunk.net, Under The Gun Review, and Punknews.org.

In September 2016, SpinMedia sold Buzznet, Idolator, and PureVolume to startup corporation Hive Media. In December of that year, Eldridge Industries acquired Spin, Vibe, Stereogum, and Death and Taxes via the Hollywood Reporter-Billboard Media Group for an undisclosed amount, making Billboard the world's largest music brand in terms of digital traffic and audience share. Celebuzz, The Frisky, and The Superficial were sold to CPX Interactive. In January 2020, Spin and Stereogum were sold to Next Management Partners and the site's management, respectively, as part of a larger focus on Vibe and a music data business.

Filmography

Film projects

Films produced or co-financed by MRC have included:

Television projects

References

References

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