MRC (company)#SpinMedia

MRC was founded by Modi Wiczyk and Asif Satchu in 2006.{{cite news |title=Media Rights Capital Duo to Lead Revamped Hollywood Reporter Parent Company |url=https://www.hollywoodreporter.com/news/general-news/media-rights-capital-duo-lead-revamped-hollywood-reporter-parent-company-1080794/ |access-date=17 December 2023 |publisher=The Hollywood Reporter |date=1 February 2018}} Its early investors included Guggenheim Partners, AT&T, WPP Group, Goldman Sachs and ABRY Partners.{{cite news |last=Bond |first=Paul |date=February 13, 2013 |title=Media Rights Capital Raises $175 Million to Co-Finance Movies |url=https://www.hollywoodreporter.com/news/media-rights-capital-raises-175-421347 |newspaper=The Hollywood Reporter |access-date=March 9, 2016}}{{cite news |last=Shaw |first=Lucas |date=May 6, 2014 |title=Guggenheim Invests $240 Million in 'House of Cards' Producer Media Rights Capital |url=https://www.thewrap.com/guggenheim-capital-invests-200-million-house-cards-producer-media-rights-capital/ |newspaper=The Wrap |access-date=March 9, 2016}} In 2007, it funded filmmakers such as Robert Rodriguez, Ricky Gervais, Walter Salles, Ryan Murphy, Richard Kelly, Bennett Miller and Todd Field.{{Cite web|last=Fleming|first=Michael|date=2007-09-05|title=Media Rights to fund top directors|url=https://variety.com/2007/film/markets-festivals/media-rights-to-fund-top-directors-1117971333/|access-date=2021-12-21|website=Variety|language=en-US}} 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.{{Cite web|last1=Thielman|first1=Sam|last2=Garrett|first2=Diane|date=2007-12-05|title=Media Rights Capital, WB pact|url=https://variety.com/2007/film/markets-festivals/media-rights-capital-wb-pact-1117977087/|access-date=2021-12-21|website=Variety|language=en-US}} MRC launched a television division of the studio in early 2008.{{Cite web|last=Fleming|first=Michael|date=2008-05-06|title=Metzger moves to Media Rights|url=https://variety.com/2008/scene/markets-festivals/metzger-moves-to-media-rights-1117985119/|access-date=2021-12-21|website=Variety|language=en-US}}

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.{{cite web|url=http://www.zap2it.com/tv/news/zap-mrcfoursundayshowscw,0,6575842.story|title=MRC Unveils Four Shows for CW Sunday|work=Zap2it|access-date=August 29, 2008 |archive-url = https://web.archive.org/web/20080529234333/http://www.zap2it.com/tv/news/zap-mrcfoursundayshowscw,0,6575842.story |archive-date = May 29, 2008}} In November 2008, after all four shows drew poor viewership, The CW announced that it would withdraw from the agreement.{{cite news|url=https://www.nytimes.com/2008/11/21/business/media/21tele.html?_r=1&ref=television|last=Carter|first=Bill|work=The New York Times|date=November 20, 2008|title=CW Says It Is Retaking Control of Its Sunday TV Lineup}} The network returned the Sunday timeslots to its affiliates in the 2009–10 season.{{Cite news | last= de Morales | first= Lisa | title= For Fall, CW Brings On the Suds -- and Vampires | newspaper=The Washington Post | date= May 21, 2009 |url= https://www.washingtonpost.com/wp-dyn/content/story/2009/05/21/ST2009052104745.html }} In 2010, MRC made a bid to buy Focus Features from NBCUniversal but was unable to close the deal. That same year, MRC struck a 5-year, 20-picture distribution deal with Universal Pictures.{{cite web|last=Waxman|first=Sharon|date=2010-05-27|title=Universal Strikes 5-Year Deal to Distribute MRC Films|url=https://www.thewrap.com/universal-strikes-5-year-deal-distribute-mrc-films-17813/|access-date=2024-03-05|website=The Wrap|language=en-US }} 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.{{cite web|last=Andreeva|first=Nellie|date=March 15, 2011|title=Netflix To Enter Original Programming With Mega Deal For David Fincher-Kevin Spacey Series 'House of Cards'|url=https://deadline.com/2011/03/netflix-to-enter-original-programming-with-mega-deal-for-david-fincher-kevin-spacey-drama-series-house-of-cards-114184/|url-status=live|archive-url=https://web.archive.org/web/20110316172230/http://www.deadline.com/2011/03/netflix-to-enter-original-programming-with-mega-deal-for-david-fincher-kevin-spacey-drama-series-house-of-cards/|archive-date=March 16, 2011|access-date=March 15, 2011|website=Deadline Hollywood}}{{cite news|last=Stelter|first=Brian|date=January 18, 2013|title=A Drama's Streaming Premiere|work=The New York Times|url=https://www.nytimes.com/2013/01/20/arts/television/house-of-cards-arrives-as-a-netflix-series.html|url-status=live|access-date=January 25, 2013|archive-url=https://web.archive.org/web/20130124213437/http://www.nytimes.com/2013/01/20/arts/television/house-of-cards-arrives-as-a-netflix-series.html|archive-date=January 24, 2013}}{{cite news|last1=Patten|first1=Dominic|date=October 30, 2017|title=Netflix Cancels 'House Of Cards', Says It's 'Deeply Troubled' Over Kevin Spacey Claims|website=Deadline Hollywood|url=https://deadline.com/2017/10/house-of-cards-canceled-kevin-spacey-scandal-netflix-season-six-1202197604/|url-status=live|access-date=October 31, 2017|archive-url=https://web.archive.org/web/20171030201515/http://deadline.com/2017/10/house-of-cards-canceled-kevin-spacey-scandal-netflix-season-six-1202197604/|archive-date=October 30, 2017}}

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.{{cite web|author=Andrew Wallenstein|date=February 1, 2018|title=Media Rights Capital, Dick Clark Prods., THR-Billboard Combine Company|url=https://variety.com/2018/biz/news/media-rights-capital-dick-clark-prods-thr-billboard-form-combined-company-1202683829/|access-date=April 17, 2018|work=Variety}} 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.{{Cite web|last=Hipes|first=Patrick|date=October 10, 2018|title=UTA Teams With MRC On TV Studio Joint Venture Dubbed Civic Center Media|url=https://deadline.com/2018/10/uta-media-rights-capital-tv-studio-civic-center-media-1202480368/|access-date=July 22, 2020|website=Deadline|language=en}}{{cite news|url=https://www.latimes.com/business/hollywood/la-fi-ct-uta-mrc-20181010-story.html|title=United Talent Agency jumps into TV production in deal with studio behind 'House of Cards'|work=Los Angeles Times|first=David|last=Ng|date=October 10, 2018|access-date=July 9, 2019}}

In December 2019, Valence Media acquired Nielsen Holdings' music data business, with the division being rebranded as MRC Data.{{Cite news|last=Steele|first=Anne|date=December 18, 2019|title=Billboard Parent Buys Nielsen Music|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/billboard-parent-buys-nielsen-music-11576670400|access-date=July 22, 2020|issn=0099-9660}}

In 2020, Valence Media rebranded as MRC.{{Cite web|last=Goldsmith|first=Jill|date=July 22, 2020|title=THR Parent Valence Media Rebrands As MRC|url=https://deadline.com/2020/07/hollywood-reporter-parent-rebrands-to-mrc-1202992082/|access-date=July 22, 2020|website=Deadline|language=en}}

{{anchor|PMRC}}On 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 will form a second joint venture that will develop content tied to PMRC publications.{{Cite web|last=Ellefson|first=Lindsey|date=September 23, 2020|title=Variety Parent Penske Media to Take Over Hollywood Reporter, Billboard in Joint Venture With MRC|url=https://www.thewrap.com/variety-parent-penske-media-to-take-over-hollywood-reporter-billboard-in-joint-venture-with-mrc/|access-date=September 23, 2020|website=TheWrap|language=en-US}}

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.{{cite web|last=Andreeva|first=Nellie|date=September 12, 2021|title=Adam Stotsky Named President Of MRC Live & Alternative As Dick Clark Prods. Name Is Phased Out|url=https://deadline.com/2021/09/adam-stotsky-president-mrc-live-alternative-dick-clark-prods-name-phased-out-1234831125/|access-date=October 23, 2021|website=Deadline}}

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 resumed business as Dick Clark Productions), 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.{{cite web|url=https://variety.com/2022/tv/news/modi-wiczyk-asif-satchu-mrc-dick-clark-eldridge-variety-1235334769/|title=MRC Chiefs Modi Wiczyk and Asif Satchu Part Ways With Eldridge, PMRC Joint Venture|first=William|last=Earl|work=Variety|date=August 5, 2022|access-date=August 5, 2022}} Wiczyk and Satchu became chairmen of the company in 2023.{{cite web|title=MRC Names Jenna Santoianni Head of TV as Elise Henderson Exits|date=March 7, 2023 |url=https://variety.com/2023/tv/news/mrc-jenna-santoianni-head-of-tv-elise-henderson-exits-1235545695/}}

SpinMedia (formerly BuzzMedia) was an American digital publisher that owned a number of pop culture websites, including Spin, Stereogum, Vibe, and The Frisky.{{cite news|title=BUZZMEDIA Acquires Top Women's Entertainment & Lifestyle Website The Frisky from Turner Broadcasting|url=https://www.reuters.com/article/2011/02/11/idUS148274+11-Feb-2011+BW20110211|archive-url=https://web.archive.org/web/20150924151145/http://www.reuters.com/article/2011/02/11/idUS148274+11-Feb-2011+BW20110211|url-status=dead|archive-date=24 September 2015|access-date=4 September 2015|publisher=Reuters|date=11 February 2011}} It was founded in 1999 by Anthony Batt, Marc Brown, Kevin Woolery, and Steve Haldane under the name Buzznet,{{cite web |title= Interview with Anthony Batt, Co-Founder, Buzznet |work= SoCal Tech" High Tech News and Information for Southern California |date= May 10, 2006 |author= Ben Kuo |url= http://www.socaltech.com/interview_with_anthony_batt__co-founder__buzznet/s-0003953.html |access-date= October 23, 2013 }} 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.{{cite web |title= BUZZMEDIA Buys Spin |work= SoCal Tech" High Tech News and Information for Southern California |date= July 10, 2012 |url=http://www.socaltech.com/buzzmedia_buys_spin/s-0043738.html |access-date= October 23, 2013 }} 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.{{Cite magazine |url= http://www.billboard.com/biz/articles/news/branding/1554416/buzzmedia-rebrands-itself-spinmedia |title= Buzzmedia Rebrands Itself SpinMedia |magazine= Billboard |date= March 25, 2013 |access-date= October 23, 2013 }} At that time, Steve Hansen became its chief executive. In April 2013, it acquired Vibe magazine.{{cite magazine |title= Vibe Magazine Purchased by SpinMedia, Will Probably Go Online-Only |magazine= Billboard |date= April 25, 2013 |url= http://www.billboard.com/biz/articles/news/branding/1559605/vibe-magazine-purchased-by-spinmedia-will-probably-go-online-only |access-date= October 23, 2013 }}{{cite news |title= Vibe Magazine Is Sold and Likely to Become Online Only |author= Sisario, Ben |author-link=Ben Sisario |date= April 25, 2013 |work= The New York Times |url= https://www.nytimes.com/2013/04/26/business/media/spinmedia-buys-vibe-magazine.html |access-date= October 23, 2013 }}

In 2014, M/C Partners became the primary owner of SpinMedia after an assignment for benefit of creditors.{{cite magazine| title = SpinMedia LLC Acquired By New Investors as SpinMedia Group Receives $10M| magazine = Billboard| format = Text| access-date = 2017-01-02| date = 2014-02-03| url = http://www.billboard.com/biz/articles/news/5893882/spinmedia-llc-acquired-by-new-investors-as-spinmedia-group-receives-10m}} That year, BuzzMedia had also acquired music sites Property of Zack, AbsolutePunk.net, Under The Gun Review, and Punknews.org.{{cite web |title= Fresh Off Spin Magazine Purchase, BUZZMEDIA Buys 4 Top Punk Rock Sites |date= August 27, 2012 |author= Bruce Houghton |url= http://www.hypebot.com/hypebot/2012/08/fresh-off-spin-magaizne-purchase-buzzmedia-buys-4-top-punk-rock-sites.html |access-date= August 27, 2012 }}

In September 2016, SpinMedia sold Buzznet, Idolator, and PureVolume to startup corporation Hive Media.{{cite magazine|last1=Rys |first1=Dan |title=SpinMedia Sells Idolator, Buzznet & PureVolume to Hive Media|url=http://www.billboard.com/articles/business/7518064/spinmedia-sells-idolator-buzznet-purevolume-hive-media|access-date=22 September 2016|magazine=Billboard|date=September 21, 2016}} 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.{{Cite web|date=2016-12-22|title=The Hollywood Reporter-Billboard Media Group Acquires SpinMedia's Music Brands, Including SPIN, VIBE, and Stereogum|url=https://www.spin.com/2016/12/the-hollywood-reporter-billboard-media-group-acquires-spinmedias-music-brands-including-spin-vibe-and-stereogum/|access-date=2020-12-10|website=Spin}}{{cite web|title=Billboard Buys Spin and Vibe in a Quest to 'Own the Topic of Music Online'|url=http://www.adweek.com/digital/billboard-buys-spin-and-vibe-quest-own-topic-music-online-175229/|website=Adweek|date=December 22, 2016 |access-date=10 March 2017}} Celebuzz, The Frisky, and The Superficial were sold to CPX Interactive.{{cite web| title = More SpinMedia sites sold (RIP SpinMedia)| work = BrooklynVegan| access-date = 2017-01-02| url = http://www.brooklynvegan.com/more-spinmedia-sites-sold-rip-spinmedia/}}{{better source needed|date=March 2017}} 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.{{Cite magazine|date=2020-01-16|title=Billboard-The Hollywood Reporter Media Group Sells Spin, Agreement in Place for Sale of Stereogum|url=http://www.billboard.com/articles/news/8548204/billboard-hollywood-reporter-media-group-spin-stereogum-sale|access-date=2020-07-22|magazine=Billboard}}

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Films produced or co-financed by MRC have included:

{{Reflist}}

• {{Official website|https://www.mrcentertainment.com/}}

{{MRC}}

{{Film Studio}}

{{Authority control}}

Category:Companies based in Beverly Hills, California

Category:American companies established in 2006

Category:Entertainment companies established in 2006

Category:Mass media companies established in 2006

Category:2006 establishments in California

Category:Film production companies of the United States

Category:Television production companies of the United States

Category:Financial services companies of the United States

Category:Blog networks

Category:Privately held companies based in California