WASHINGTON, June 19 (UPI) -- Washington Redskins owner Daniel Snyder reached nostalgia nirvana with the purchase of the American Bandstand franchise made famous by the ageless Dick Clark.
Snyder, whose RedZone Capital private equity firm has acquired an array of entertainment-oriented investments, announced Tuesday it bought Dick Clark Productions Inc. for $175 million.
Along with Bandstand, Snyder gets other Clark-controlled ventures, including the "New Year's Rockin' Eve" broadcast from New York's Times Square, the Golden Globes awards show, the American Music Awards, and the Academy of Country Music Awards.
The purchase also gives Snyder ownership of the 877 episodes of American Bandstand Clark hosted between 1957 and 1989. The iconic show featured "Rate-a-Record" in which teens rated a danceable record -- whether Eddie Arnold or the Zombies -- on a scale up to 100, and performances from bands as diverse as Pat Boone and Run DMC.
"Dick Clark Productions is responsible for some of the most enduring brands in entertainment," said Snyder, who will become chairman of the company. "This was a rare opportunity to acquire a powerhouse portfolio and grow it in new directions."
Clark, 77, said in a statement the deal had his "full support."
