MRC (company)
MRC II Distribution Company, L.P.[2], doing business as MRC (formerly Media Rights Capital), is an American film and television studio. Founded by Mordecai (Modi) Wiczyk and Asif Satchu, the company funds and produces film and television programming.
For other uses, see MRC.MRC
Media Rights Capital (2006–2013)
Film
Television
2006
Modi Wiczyk
Asif Satchu
Worldwide
Eldridge Industries (minority)
The company's divisions include MRC Film, MRC Non-Fiction, and MRC Television. In 2018, the company merged with Todd Boehly's media assets under Valence Media, with the company as a whole taking on the MRC name in 2020; this included Dick Clark Productions (briefly known as MRC Live & Alternative), audience data firm Luminate (the former Nielsen SoundScan), and the entertainment industry publications Billboard and The Hollywood Reporter. Boehly (through Eldridge Industries) re-acquired most of these assets in August 2022.
Productions by the company have included the Netflix series House of Cards and Ozark, and the films Baby Driver, Knives Out, and Ted.
History[edit]
Early history[edit]
MRC was founded by Modi Wiczyk and Asif Satchu in 2006.[3] Its early investors included Guggenheim Partners, AT&T, WPP Group, Goldman Sachs and ABRY Partners.[4][5] In 2007, it funded filmmakers such as Robert Rodriguez, Ricky Gervais, Walter Salles, Ryan Murphy, Richard Kelly, Bennett Miller and Todd Field.[6] 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.[7] MRC launched a television division of the studio in early 2008.[8]
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.[9] In November 2008, after all four shows drew poor viewership, The CW announced that it would withdraw from the agreement.[10] The network returned the Sunday timeslots to its affiliates in the 2009–10 season.[11] 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.[12] 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.[13][14][15]
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.[16] 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.[17][18]
2019–2022: Valence Media and PMRC[edit]
In December 2019, Valence Media acquired Nielsen Holdings' music data business, with the division being rebranded as MRC Data.[19]
In 2020, Valence Media rebranded as MRC.[20]
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.[21]
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.[22]
2022–present: Unwinding of the Valence merger[edit]
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.[23] Wiczyk and Satchu became chairmen of the company in 2023.[24]
SpinMedia[edit]
SpinMedia (formerly Buzz Media) was an American digital publisher that owned a number of pop culture websites, including Spin, Stereogum, Vibe, and The Frisky.[25] It was founded in 1999 by Anthony Batt , Marc Brown, Kevin Woolery, and Steve Haldane under the name Buzznet,[26] and by 2006, Buzznet had a total of nine employees in the Los Angeles, California, area.[26] The Buzz Media 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.[27] 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.[28] At that time, Steve Hansen became its chief executive.[28] In April 2013, it acquired Vibe magazine.[29][30]
In 2014, M/C Partners became the primary owner of SpinMedia after an assignment for benefit of creditors.[31] That year, Buzz Media had also acquired music sites Property of Zack, AbsolutePunk.net, Under The Gun Review, and Punknews.org.[32]
In September 2016, SpinMedia sold Buzznet, Idolator, and PureVolume to startup corporation Hive Media.[33] 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.[34][35] Celebuzz, The Frisky, and The Superficial were sold to CPX Interactive.[36] 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.[37]
Films produced or co-financed by MRC have included: