BOEHLY-ING FOR
DOLLARS (PART TWO)

As we noted recently, Todd Boehly’s media empire, now under review by two investment banks, could be crumbling. Dick Clark Productions, the one piece of the platform with real value, was acquired by Guggenheim in a deal valued at $370m in 2012; insiders believe it now has a valuation north of $800m. Among the prospective buyers, these insiders say, is Dutch media giant Endemol. What is the equity stake currently held by DCP CEO Allen Shapiro and Chairman Peter Guber?

But with the Bible and The Hollywood Reporter—neither of which is said to be attracting potential buyers—at its center, Boehly’s media platform was unstable from the outset. The plan was to build it into a force to rival TMZ, the E channel and Entertainment Tonight, and co-prexy/Chief Creative Officer Janice Min’s Us Weekly approach swiftly transformed Billboard, a once stolid industry trade, into a tabloid.

The problem, in the words of one top industry CEO, is that “You can’t run an industry trade if you have no understanding of the industry you’re covering.” The music biz has ceased paying attention to BB’s gossipy triviality and handbag coveting, and views its endless variations on the power list with annoyance at best.

THR-BB Media Group co-prez John Amato, meanwhile, has become a non-factor at the Bible, according to top label execs who claim he has no juice whatsoever and can’t affect editorial (as Min’s editorial right hand, Shirley Halperin, has been pointing out to anyone who will listen). Will he soon go the way of Tony Gervino, who was hired as Editor in Chief in 2014 only to be given his walking papers a mere two years later? Perhaps, but some insiders believe the Amato-Boehly relationship is so tight that Amato may outlast everyone.

Keep an eye on forthcoming Jones Beach music fest, which last year cost the Bible untold millions and became known as Amato’s Folly.