Eldridge Industries cancels $1B Dick Clark Productions sale
March 14, 2017
Movies, Music and Entertainment | Santa Monica, CA | Corporate Acquisition
Eldridge Industries has terminated its $1 billion sale of Dick Clark Productions to Dalian Wanda after the Chinese investment group "failed to honor its contractual obligations," per Fortune. Eldridge is now set to net $50 million in termination fees from Dalian Wanda, piling an additional $25 million onto the penalty it incurred when it extended the deadline to close the deal in January.