Ryan Seacrest and Clear Channel Announce New Investment Agreements to Drive Growth and Innovation across Multiple Media Platforms; THL Partners and Bain Capital Commit Up to $300 Million
Ryan Seacrest Media, an investment holding company, and Clear Channel (NYSE: CCO) together with Clear Channel's majority investors Thomas H. Lee Partners and Bain Capital, today announced two new investment agreements designed to drive business growth across multiple media platforms.
Funds sponsored by THL and Bain Capital have together committed up to $300 million to working with RSM to identify, acquire and develop innovative media companies, media content and other media properties that can be leveraged to support a range of media enterprises.
Under a separate agreement, Clear Channel will acquire a minority stake in Ryan Seacrest Productions , a privately-held entertainment production company. RSP produces the hit series “Keeping Up with the Kardashians,” the highest-rated show on the E! network, and the spin-offs “Kourtney and Kim Take New York,” “Khloe and Lamar,” and “Kourtney and Khloe Take Miami.” RSP also produced the Emmy Award-winning ABC reality series “Jamie Oliver's Food Revolution.” RSP is currently producing two new reality series including “Melissa and Tye: A New Reality,” for CMT and “Shahs of Sunset,” for Bravo.
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