File:Eldridge logo.png | |
Type | Private investment |
---|---|
Founded | 2015 |
Founder | Todd Boehly |
Headquarters | Greenwich, Connecticut, U.S.[1] |
Website | eldridge |
Eldridge Industries LLC is a holding company headquartered in Greenwich, Connecticut, with offices in New York, London, and Beverly Hills.[1][2][3][4][5] Eldridge makes investments across the insurance, credit, technology, real estate, media, sports, and consumer industries.[1][6][7][8][9]
History[]
Eldridge was formed in 2015 by CEO and Chairman Todd Boehly, President Anthony D. Minella, and General counsel Duncan Bagshaw,[10][11] after Boehly purchased Dick Clark Productions, Billboard and The Hollywood Reporter, and Mediabistro from Guggenheim Partners.[8][4]
In March 2017, Eldridge led a round of funding estimated at over $100 million for DraftKings, a daily fantasy sports contest provider.[2][12] Eldridge also has a stake in the Los Angeles Dodgers;[13] Chavez Ravine, the acreage around Dodger Stadium;[14][15] Cloud9;[16] Atrium Sports;[17] The Ready Games;[18] and Epic Games.[10]
In 2017 Eldridge acquired, with a co-investor, Pittsburg-based NPC International, LLC, the largest franchisee of Pizza Hut (part of Yum Brands), and Wendy's.[19] On July 1, 2020 NPC filed for Chapter 11 bankruptcy.[20]
Eldridge seeded Essential Properties Realty Trust, a REIT that went public in June 2018 under the symbol NYSE: EPRT.[21]
The firm also provided financing to Prescient, a building technology platform, for $50 million in July 2018.[22] Eldridge committed an additional $40 million in funding for the company in June 2020 for a total of $90 million.[23][24]
In 2018, Eldridge also became a partner for the Global Citizen Festival, which was held in South Africa to honor the life and legacy of Nelson Mandela in his centenary year.[25]
In October 2019, Eldridge invested $300 million in real estate investment company Kennedy Wilson.[26]
In 2019, Eldridge increased its investment in Maranon Capital, an investment manager, resulting in Eldridge holding a majority ownership stake in the company.[27]
Eldridge committed €1 billion to Blackbrook Capital, an independent European real estate investment firm, in March 2020.[28][29]
Eldridge owns Security Benefit Life Insurance, an insurer with $40 billion in assets;[13] Valence Media;[30] CBAM Partners, an SEC-registered investment advisor;[31] Stonebriar Commercial Finance, a large ticket commercial finance and leasing company;[32] and co-owns Cain International, a London-headquartered real estate firm which owns The Beverly Hilton and Waldorf Astoria Beverly Hills.[33][34][35]
Eldridge owns a technology platform for insurance companies, SE2.[36][37] In 2019 SE2 and Life.io launched an integrated life insurance and annuity platform, SE2 Digital Engage.[38]
Thirteenth Floor Entertainment Group, an operator of horror-themed entertainment venues and escape rooms, is partially owned by Eldridge.[39][40]
Eldridge has invested in fintech companies PayActiv, Stash and Truebill.[41] The company has invested in technology companies Capital Integration Systems (CAIS),[42] Digital Asset,[43] and Cutover.[44]
In 2020, Eldridge participated in a $1.1 billion financing round for digital delivery service Gopuff.[45] The firm led a $475 million financing round for artificial intelligence company Dataminr.[46] Eldridge also invested in mobile game developer Tripledot Studios.[47]
Eldridge acquired data technology company Knoema.[48] Eldridge was part of a group of creditors who invested $1.2 billion in Canadian company Cirque du Soleil in 2020.[49]
In December 2020, Eldridge provided financing to Ark Invest, allowing ARK founder Cathie Wood to remain majority shareholder of the company.[50]
In January 2021, the College of William & Mary announced that it had partnered with Eldridge to develop a series of courses related to fiscal policy at the Mason School of Business.[51]
Eldridge invested in DPL Financial Partners in January 2021.[52] Hudson Structured Capital Management refinanced in 2021, with Eldridge as its principal backer.[53]
Eldridge has backed hospitality group Aurify Brands since it was founded in 2011.[54] Eldridge invested in international bakery-restaurant chain Le Pain Quotidien through Aurify in March 2021.[55] Eldridge also invested in pizza restaurant chain Chuck E. Cheese.[56]
That year, Eldridge invested in PPRO Financial and Clearcover Insurance.[57][58] Eldridge also acquired sporting goods producer G-Form, which produces Smart-Flex athletic gear.[59]
Horizon Acquisition Corporation[]
Eldridge's special-purpose acquisition company Horizon Acquisition Corporation was founded in June 2020.[60] The company filed for a blank check IPO of $575 million in August 2020.[61] Horizon Acquisition Corporation II, an SPAC focused on media and entertainment, in August 2020.[62]
In March 2021, Eldridge's Horizon Acquisition Corporation III filed for a $500 million IPO.[63]
Media holdings[]
In 2015, Eldridge put some of its media properties up for sale, including Adweek and the Clio Awards.[64] Adweek was sold a year later to Beringer Capital, a private equity firm that invests in digital media and marketing services.[65] The Clio Awards, a 58-year-old ad industry event, was sold to investment company Evolution Media in 2017.[66]
In December 2016, Billboard-Hollywood Reporter Media Group purchased the music publications Spin, Stereogum and Vibe from SpinMedia for an undisclosed amount.[67]
In February 2018, Eldridge announced it would be consolidating three of its entertainment properties into a new company, Valence Media, which rebranded as MRC on July 20, 2020.[68] The properties included Media Rights Capital, a film and television studio which created Netflix shows Ozark and House of Cards;[69][70] Dick Clark Productions, a producer of award shows and other live event programs; and the Billboard-The Hollywood Reporter Media Group.[71][72][73]
MRC's co-founders Asif Satchu and Modi Wiczyk serve as co-CEOs and Boehly serves as Chairman.[72][74] MRC also owns a minority stake in film distributor A24;[73] and London-based production company Fulwell 73.[75][76]
In December 2019, Valence acquired Nielsen Holdings' music data business.[77]
In January 2020, MRC sold music publications Spin and Stereogum to Next Management Partners.[78]
In November 2020, Eldridge acquired the music publishing rights to American rock band The Killers, covering the band's first five albums. Universal Music Publishing Group will continue to administer the catalogue.[79]
In September 2020, it was announced that Penske Media Corporation and MRC would form a joint venture named PMRC. The new venture would manage the daily operations of publications such as Billboard, the Hollywood Reporter, Vibe, Variety, Rolling Stone and Music Business Worldwide.[80] A second joint venture between MRC and Penske was also announced, to manage content and intellectual property such as television series, films, and live events including South by Southwest.[81]
References[]
- ↑ 1.0 1.1 1.2 "Company Overview of Eldridge Industries LLC". Bloomberg L.P. August 16, 2018.
{{cite web}}
: - ↑ 2.0 2.1 "Dodgers' Boehly Leads $100 Million DraftKings Investment". Bloomberg. Retrieved 10 March 2017.
{{cite web}}
: - ↑ "About Us". Eldridge.com.
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: - ↑ 4.0 4.1 "Eldridge Industries". Crunchbase. Retrieved September 2, 2018.
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: - ↑ "Dodgers Co-Owner Takes Stake in Beverly Hilton Hotel". Bloomberg L.P. August 17, 2018.
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: - ↑ "Guggenheim Prepares To Sell Hollywood Reporter, Dick Clark Productions To Exec". Deadline.com. Retrieved 18 December 2015.
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: - ↑ "Guggenheim Media Spins Off Money-Losing Hollywood Reporter, Billboard to Company President Todd Boehly (Exclusive)". The Wrap. Retrieved 18 December 2015.
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: - ↑ 8.0 8.1 "Hollywood Reporter Parent Company Spins Off Media Assets to Executive". The Hollywood Reporter. Retrieved 3 January 2016.
{{cite web}}
: - ↑ "Conn. PE Firm Eldridge Closes $1.4B In Funding". Law360. April 15, 2019.
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: - ↑ 10.0 10.1 "From CLOs to 'Ozark,' ex-Guggenheim president builds an empire". Financial Planning. 2019-09-09. Retrieved 2020-06-16.
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: - ↑ "Duncan Bagshaw". www.bloomberg.com. Retrieved 2020-06-16.
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: - ↑ Curt Woodward (March 9, 2017). "Another $100 million in financing for DraftKings". The Boston Globe.
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: - ↑ 13.0 13.1 Childs, Mary. "Former Guggenheim President Todd Boehly Is Growing His Investment Empire, From the Dodgers to Collateralized Loans". www.barrons.com. Retrieved 2020-06-16.
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: - ↑ Childs, Mary (12 April 2019). "Former Guggenheim President Todd Boehly Is Growing His Investment Empire, From the Dodgers to Collateralized Loans". www.barrons.com. Retrieved 2020-09-16.
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: - ↑ Garcia, David G. (2006). "REMEMBERING CHAVEZ RAVINE: CULTURE CLASH AND CRITICAL RACE THEATER". Chicana/O Latina/o Law Review 26 (1). ISSN 1061-8899.
- ↑ Perez, Matt. "Cloud9 eSports Team Closes Series A Funding, Investors Include Joe Montana, Alexis Ohanian". Forbes. Retrieved 2020-06-16.
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: - ↑ Young, Jabari (2019-12-16). "Atrium Sports buys sports analytics provider Synergy to create $100 million sports data and AI company". CNBC. Retrieved 2020-06-16.
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: - ↑ "Ready raises $5 million for hyper-casual esports platform". VentureBeat. 2019-08-27. Retrieved 2020-06-16.
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: - ↑ Pizza Hut’s largest franchise operator weighs options, including bankruptcy Retrieved July 1, 2020
- ↑ Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy Retrieved July 1, 2020
- ↑ Kristy Westgard (June 21, 2018). "'Retail Apocalypse' Didn't Scare This Landlord Off an IPO". Bloomberg L.P.
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: - ↑ Iris Dorbian (July 23, 2018). "Prescient snags $50 mln Series E". PE Hub.
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: - ↑ "Construction Tech Co. Prescient Gets $90M Financing - Law360". www.law360.com. Retrieved 2020-09-16.
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: - ↑ "Prescient receives $90M in funding". Construction Dive. Retrieved 2020-09-16.
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: - ↑ Lexy Perez (July 9, 2018). "Beyonce, Jay-Z Among Headliners at Global Citizen Festival Honoring Nelson Mandela Centennial". The Hollywood Reporter.
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: - ↑ "Kennedy Wilson receives $300M investment, announces new $1.5B target for West Coast fund". The Real Deal Los Angeles. 2019-10-18. Retrieved 2020-06-16.
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: - ↑ "Eldridge Industries Acquires Majority Ownership Position in Maranon Capital". www.businesswire.com. 2019-02-04. Retrieved 2020-08-11.
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: - ↑ "Industry Veterans Launch European Specialist Real Estate Investment Firm Blackbrook Capital". Blackbrook. Retrieved 2020-08-11.
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: - ↑ IPE Staff (3 March 2020). "New European property investment firm gets €1bn capital backing". Real Assets. Retrieved 2020-08-11.
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: - ↑ Wallenstein, Andrew (2018-02-01). "Media Rights Capital, Dick Clark Prods., THR-Billboard Form Combined Company". Variety. Retrieved 2020-06-22.
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: - ↑ "CLO Roundup: CBAM marketing its fourth $1B CLO of the year". Asset Securitization Report. 2017-11-17. Retrieved 2020-06-22.
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: - ↑ Finance, Stonebriar Commercial. "Stonebriar Set to Close its Fifth Equipment Securitization Transaction for $650 Million". www.prnewswire.com. Retrieved 2020-06-22.
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: - ↑ "From CLOs to 'Ozark,' ex-Guggenheim president builds an empire". Financial Planning. 2019-09-09. Retrieved 2020-06-22.
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: - ↑ Gittelsohn, John; Clark, Patrick (17 August 2018). "Dodgers Co-Owner Takes Stake in Beverly Hilton Hotel". www.bloomberg.com. Retrieved 2020-06-22.
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: - ↑ Lazaroff, Leon. "Dick Clark Productions deal expected to close in coming weeks". TheStreet. Retrieved 2020-06-22.
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: - ↑ "From CLOs to 'Ozark,' Ex-Guggenheim President Builds an Empire". BloombergQuint. Retrieved 2020-08-18.
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: - ↑ SE2 (2020-06-30). "SE2 named a Leader in Life, Annuities, and Pensions BPS by NelsonHall". GlobeNewswire News Room. Retrieved 2020-08-18.
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: CS1 maint: numeric names: authors list (link) - ↑ Chicago, Finn Partners (2019-09-19). "SE2 and Life.io Announce Integrated, End-To-End Digital Engagement Solution That Reimagines Selling and Policy Servicing of Life Insurance". GlobeNewswire News Room. Retrieved 2020-08-18.
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: - ↑ Childs, Mary. "Former Guggenheim President Todd Boehly Is Growing His Investment Empire, From the Dodgers to Collateralized Loans". www.barrons.com. Retrieved 2020-08-18.
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: - ↑ OKONEmailFollow, B. O. B. "Thirteenth Floor plans haunted house at Old Joliet Prison". www.theherald-news.com. Retrieved 2020-08-18.
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: - ↑ Basak, Sonali; Surane, Jennifer (1 April 2020). "US Hourly Workers Pressured by Crisis to Get Paid Sooner". www.bloomberg.com. Retrieved 2020-06-22.
{{cite web}}
: - ↑ Hu, David French, Krystal (2020-11-18). "Boehly's Eldridge invests in financial technology firm CAIS" (in en). Reuters. https://www.reuters.com/article/us-cais-fundraising-idUSKBN27Y2PQ.
- ↑ "Digital Asset Bags $120M in Series D". vcnewsdaily.com. Retrieved 2021-05-10.
{{cite web}}
: CS1 maint: url-status (link) - ↑ "Orchestration platform Cutover raises $35M for digital transformations". VentureBeat. 2021-03-03. Retrieved 2021-05-10.
{{cite web}}
: CS1 maint: url-status (link) - ↑ Staff, Reuters (2021-03-23). "GoPuff raises $1.15 billion at nearly $9 billion valuation from SoftBank, others" (in en). Reuters. https://www.reuters.com/article/us-gopuff-funding-idUSKBN2BF24I.
- ↑ "Dataminr raises $475M on a $4.1B valuation for real-time insights based on 100k sources of public data". TechCrunch. Retrieved 2021-05-10.
{{cite web}}
: CS1 maint: url-status (link) - ↑ "Tripledot raises $78 million for London-based mobile game studio". VentureBeat. 2021-04-08. Retrieved 2021-05-10.
{{cite web}}
: CS1 maint: url-status (link) - ↑ "Knoema announces acquisition by Eldridge and partnership with Snowflake". VentureBeat. 2020-12-21. Retrieved 2021-05-16.
{{cite web}}
: CS1 maint: url-status (link) - ↑ Kosman, Josh (2020-06-08). "Cirque du Soleil gets $1.2 billion buyout offer from creditors". New York Post. Retrieved 2021-05-12.
{{cite web}}
: - ↑ "The ARK Invest Takeover Battle Is Over". Institutional Investor. Retrieved 2021-05-12.
{{cite web}}
: - ↑ "Eldridge Partners with William & Mary to Develop New Course Offerings for The Boehly Center". mason.wm.edu. Retrieved 2021-05-16.
{{cite web}}
: CS1 maint: url-status (link) - ↑ Cawthon, Haley (January 13, 2021). "DPL Financial Partners secures $26 million in growth capital". www.bizjournals.com. Retrieved 2021-05-12.
{{cite web}}
: CS1 maint: url-status (link) - ↑ Evans, Steven (2021-02-09). "Hudson Structured refinances with Eldridge backing for future growth - Artemis.bm". Artemis.bm. Retrieved 2021-05-16.
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: CS1 maint: url-status (link) - ↑ Ewen, Beth. "Backed by Aurify, Melt Shop searches for perfection". franchisetimes.com. Retrieved 2021-05-16.
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: CS1 maint: url-status (link) - ↑ Ewen, Beth. "Aurify Rescues Two Chains From Distress Amid Pandemic 'Disaster' in NYC". franchisetimes.com. Retrieved 2021-05-16.
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: CS1 maint: url-status (link) - ↑ (in en) How Eldridge Industries Found Coronavirus Investment Opportunities, https://www.bloomberg.com/news/videos/2020-06-30/how-eldridge-industries-found-coronavirus-investment-opportunities-video, retrieved 2021-05-16
- ↑ "PPRO extends latest round to $270M, adding JPMorgan and Eldridge to grow its localized payments platform". TechCrunch. Retrieved 2021-05-12.
{{cite web}}
: - ↑ "EXCLUSIVE Insurance startup Clearcover raises $200 mln from Eldridge, others at $1 bln valuation". Reuters. 2021-04-13. Retrieved 2021-05-12.
{{cite web}}
: - ↑ Apr 9, SGB Media |; Apparel, 2021 |; Updates, S. G. B.; Update (2021-04-09). "G-Form Announces Acquisition By Eldridge | SGB Media Online". sgbonline.com. Retrieved 2021-04-15.
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: ; first2CS1 maint: numeric names: authors list (link) - ↑ "Horizon Acquisition Corp - Company Profile and News". Bloomberg.com. Retrieved 2021-05-16.
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: CS1 maint: url-status (link) - ↑ "Blank-check company Horizon Acquisition files for IPO". www.spglobal.com. Retrieved 2021-05-16.
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: CS1 maint: url-status (link) - ↑ Spangler, Todd (2020-11-23). "Ex-Netflix Programming Exec Cindy Holland Joins Board of Entertainment Holding Company Horizon Acquisition Corp. II". Variety. Retrieved 2021-05-16.
{{cite web}}
: CS1 maint: url-status (link) - ↑ Staff, Reuters (2021-03-24). "Third SPAC led by LA Dodgers owner Boehly files for $500 million U.S. IPO" (in en). Reuters. https://www.reuters.com/article/us-horizon-acquisition-iii-ipo-idUSKBN2BG1G0.
- ↑ Keith J. Kelly (May 31, 2016). "AdWeek, Clio Awards put up for sale". https://nypost.com/2016/05/31/adweek-clio-awards-put-up-for-sale/.
- ↑ "Adweek acquired by private equity firm Beringer Capital". TechCrunch. Retrieved 19 July 2016.
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: - ↑ "Clio Awards Acquired by Global Investment Firm Evolution Media" (in en-US). Adweek. http://www.adweek.com/agencies/clio-awards-acquired-by-global-investment-firm-evolution-media/.
- ↑ "Hollywood Reporter-Billboard Group acquires Spin, Vibe and Stereogum". The Los Angeles Times. December 23, 2016. Retrieved December 13, 2018.
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: - ↑ Goldsmith, Jill (2020-07-22). "THR Parent Valence Media Rebrands As MRC". Deadline. Retrieved 2020-07-22.
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: - ↑ Wallenstein, Andrew (2018-02-01). "Media Rights Capital, Dick Clark Prods., THR-Billboard Form Combined Company". Variety. Retrieved 2020-06-29.
{{cite web}}
: - ↑ "From CLOs to 'Ozark,' ex-Guggenheim president builds an empire". Financial Planning. 2019-09-09. Retrieved 2020-06-29.
{{cite web}}
: - ↑ Wallenstein, Andrew (2018-02-01). "Media Rights Capital, Dick Clark Prods., THR-Billboard Form Combined Company" (in en-US). Variety. https://variety.com/2018/biz/news/media-rights-capital-dick-clark-prods-thr-billboard-form-combined-company-1202683829/.
- ↑ 72.0 72.1 Faughnder, Ryan. "'House of Cards' producer MRC merges with Dick Clark Productions and Hollywood Reporter publisher". Los Angeles Times. Retrieved 2018-03-29.
{{cite web}}
: - ↑ 73.0 73.1 Diane Haithman (February 2, 2018). "Billboard-Hollywood Reporter, Dick Clark Productions and MRC Merge as Valence Media". Los Angeles Business Journal.
{{cite web}}
: - ↑ Tony Maglio (February 1, 2018). "THR to Combine With Dick Clark Productions, 'House of Cards' Studio in New Todd Boehly Banner". TheWrap.
{{cite web}}
: - ↑ "Eldridge Industries Announces $1.36 Billion Equity Investment". www.businesswire.com. 2019-04-15. Retrieved 2020-06-29.
{{cite web}}
: - ↑ Childs, Mary. "Former Guggenheim President Todd Boehly Is Growing His Investment Empire, From the Dodgers to Collateralized Loans". www.barrons.com. Retrieved 2020-06-16.
{{cite web}}
: - ↑ Steele, Anne (2019-12-18). "Billboard Parent Buys Nielsen Music" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/billboard-parent-buys-nielsen-music-11576670400.
- ↑ "Billboard-The Hollywood Reporter Media Group Sells Spin, Agreement in Place for Sale of Stereogum". Billboard. 2020-01-16. Retrieved 2020-08-18.
{{cite web}}
: - ↑ "The Killers' Catalog Acquired in Eldridge's First Music Publishing Deal". Billboard.
{{cite web}}
: - ↑ Yoo, Noah. "Rolling Stone, Billboard, Vibe, More to Operate Under New Joint Venture PMRC". Pitchfork. Retrieved 2021-05-16.
{{cite web}}
: CS1 maint: url-status (link) - ↑ "Billboard Parent Company MRC Teams With Penske Media for Publishing and Content Ventures". Billboard. Retrieved 2021-05-16.
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: CS1 maint: url-status (link)
External links[]
Template:Eldridge Industries