Business News Media

Billboard publisher spun off into standalone company

By | Published on Monday 21 December 2015


The current owner of US music industry magazine Billboard is spinning off the title – as well as other trade mags like The Hollywood Reporter and awards producer Dick Clark Productions – into a new business that will be controlled by the current president of its media unit.

The arrangement will create a standalone company led by Todd Boehley, who is currently President of Guggenheim Digital Media, which has to date overseen the media assets of US finance firm Guggenheim Partners.

The new business will have four units, one running Billboard and The Hollywood Reporter, another controlling Adweek, Mediabistro and the Clio Awards, and then Golden Globes maker Dick Clark Productions. The fourth will be film distributor A24, of which Boehley is already a co-owner. Boehley will cease to work for Guggenheim as a result of the deal, though he will retain links with the finance firm, not least as a shareholder.

Confirming his new business, and its acquisition of Guggenheim’s media assets, Boehly is quoted by Billboard as saying: “I’m very excited about this. These are tremendous brands with huge growth potential, especially as they expand into video. My goal is to invest and build something even more special than what we have now”.