Six Flags to Take on Active Managerial Role for Dick Clark Prod

[29yrswithaGApass]

AP

Six Flags to Help Manage Dick Clark Co.

Wednesday February 27, 3:00 pm ET

Six Flags to Take on Active Managerial Role for Dick Clark Productions

 

LOS ANGELES (AP) -- Six Flags Inc., a minority shareholder of Dick Clark Productions Inc., said Wednesday it will take on an active managerial role for the television production company.

The New York-based amusement-park operator said it will offer strategic oversight to Dick Clark Productions management.

 

Meanwhile, Dick Clark Productions named Orly Adelson as president. Adelson will be responsible for the company's production, distribution and network operations.

 

She will report to Six Flags Chief Executive Mark Shapiro.

 

In addition, Dick Clark Productions CEO Terry Bateman will step down from his post. Bateman, 51, will serve as a special adviser and liaison for the company and its ownership group.

 

Dick Clark Productions produces programs including the Golden Globe Awards and the American Music Awards.

 

Shares of Six Flags fell 5 cents, or 2.3 percent, to $2.15 in afternoon trading. Over the past year, the stock has traded between $1.46 and $6.80.

 

 

Press Release

Orly Adelson Named President of Dick Clark Productions

Wednesday February 27, 1:45 pm ET

Six Flags to Assume Managerial Role and Provide Strategic Oversight

 

 

LOS ANGELES--(BUSINESS WIRE)--Dick Clark Productions, Inc. (“DCP”), a leading independent producer of television programming, announced today that Orly Adelson has been named President.

Source: Dick Clark Productions, Inc.

 

 

Adelson, who is a prominent and distinguished producer in the television and film industry, will oversee all aspects of DCP’s production, distribution and network operations. She also will be involved in implementing new strategies to leverage and expand the Dick Clark Productions brand.

 

“This is an exciting company with enormous growth potential. Dick Clark Productions has created many of today’s favorite programs,” stated Adelson. “I look forward to working with the team to develop new programming and to enhance our existing productions.”

 

Adelson joins DCP from Orly Adelson Productions. There she produced an eclectic and successful slate of high-profile entertainment projects including “3,” which starred Barry Pepper as NASCAR hero Dale Earnhardt and was ESPN’s highest-rated movie ever; “Cavedweller,” based on a novel by Dorothy Allison, that received a series of industry awards; the critically acclaimed “Playmakers,” ESPN’s first original dramatic series and winner of the AFI award as one of the year’s top ten series; and, “D.C. Sniper: 23 Days of Fear,” which won the NAACP Image Award for best television movie or mini-series.

 

A native of Israel, Adelson served as a lieutenant in the Israeli Army, prior to earning her Bachelor’s degree in Sociology and Musicology from Hebrew University, simultaneously graduating from the Academy of Music and Dance. Adelson moved to the U.S. in 1982 where she began her career as a producer at the ad agency Bozell, Jacobs, Kenton, and Eckhardt. In 1990 she moved into the arena of television movie production as Vice President of Development at Brandman Productions. The following year Adelson joined Carolco-Gimble Productions, which three years later became Gimble-Adelson Productions.

 

 

Six Flags Assumes Managerial Role

 

Dick Clark Productions also announced that Six Flags, Inc. (NYSE:SIX - News), which owns 40% of DCP, will take an active role in managing the Company. As part of the new structure, Six Flags will provide strategic guidance and oversight to DCP management. Newly appointed President Orly Adelson will report to Six Flags Chief Executive Officer Mark Shapiro. Terry Bateman, who resides in Washington D.C. and served as DCP’s Chief Executive Officer after the Company was acquired in June 2007, will step down as CEO, but will remain as a special advisor and liaison for DCP and its ownership group.

 

Terry Bateman stated, “Since joining the Company last June, it has become increasingly clear to me that DCP needs a stronger leadership presence with extensive experience and knowledge of the entertainment industry in its Los Angeles-based headquarters. Orly Adelson is the right person to fill this gap.”

 

“Additionally, the Six Flags management team brings a wealth of creative, production and marketing experience to the table. They are well-suited to provide Orly and the rest of the DCP team with strategic oversight and guidance while continuing to explore logical synergies between the two companies. This dynamic new management structure will instill the Company with new ideas and a renewed sense of direction,” added Bateman.

 

Adelson added, “There are many potential synergies and opportunities for content creation and distribution between the two Companies. My experience and expertise creating original programming will help DCP expand upon its already impressive properties and extensive library. Combining this with Six Flags’ broad distribution platform will give us enormous reach.”

 

About Dick Clark Productions, Inc. -Founded in 1957, Dick Clark Productions, Inc. (“DCP”) is a leading independent producer of television programming. DCP produces perennial hits such as the American Music Awards, the Golden Globe Awards, Dick Clark's New Year's Rockin’ Eve and the Academy of Country Music Awards. DCP also produces popular weekly television programming, including So You Think You Can Dance, and owns and maintains one of the world’s most unique and extensive entertainment libraries, which includes more than 30 years of American Bandstand, among other things. For additional information, please visit www.dickclarkproductions.com.

 

About Six Flags, Inc. -Six Flags, Inc. is the world's largest regional theme park company with 21 parks across the United States, Mexico and Canada. Founded in 1961, Six Flags has provided world class entertainment for millions of families with cutting edge, record-shattering roller coasters and appointment programming with events like the popular Thursday and Sunday Night Concert Series. Now 47 years strong, Six Flags is recognized as the preeminent thrill innovator while reaching to all demographics – families, teens, tweens and thrill seekers alike – with themed attractions based on the Looney Tunes characters, the Justice League of America, skateboarding legend Tony Hawk, The Wiggles and Thomas the Tank Engine. Six Flags, Inc. is a publicly-traded corporation (NYSE:SIX - News) headquartered in New York City