Eldridge Industries


Eldridge Industries LLC is a holding company headquartered in Greenwich, Connecticut, with offices in New York, London, and Beverly Hills. The firm invests across diversified industries with a focus on credit; technology; consumer experiences; real estate; insurance; sports and media.

History

Eldridge was formed in 2015 by CEO and Chairman Todd Boehly, President Anthony D. Minella, and General counsel Duncan Bagshaw, after Boehly purchased several media properties controlled by Guggenheim Partners.
In March 2017, Eldridge led a round of funding estimated at over $100 million for DraftKings, a daily fantasy sports contest provider. Eldridge also has a stake in the Los Angeles Dodgers; Cloud9; Atrium Sports; The Ready Games; and Epic Games.
In 2017 Eldridge acquired, with a co-investor, Pittsburg-based NPC International, LLC, the largest franchisee of Pizza Hut, and Wendy's. On July 1, 2020 NPC filed for Chapter 11 bankruptcy.
Eldridge seeded Essential Properties Realty Trust, a REIT that went public in June 2018 under the symbol.
The firm also provided financing to Prescient, a building technology platform, for $50 million in July 2018.
In 2018, Eldridge also became a partner for the Global Citizen Festival, which was held in South Africa to honor the life and legacy of Nelson Mandela in his centenary year.
In October 2019, Eldridge invested $300 million in real estate investment company Kennedy Wilson.
Eldridge owns Security Benefit Life Insurance, an insurer with $40 billion in assets; Valence Media; CBAM Partners, an SEC-registered investment advisor; Stonebriar Commercial Finance, a large ticket commercial finance and leasing company; and co-owns Cain International, a London-headquartered real estate firm which owns The Beverly Hilton and Waldorf Astoria Beverly Hills.
Eldridge has invested in fintech companies PayActiv and Truebill.

Media holdings

In 2015, Eldridge put some of its media properties up for sale, including Adweek and the Clio Awards. Adweek was sold a year later to Beringer Capital, a private equity firm that invests in digital media and marketing services. The Clio Awards, a 58-year-old ad industry event, was sold to investment company Evolution Media in 2017.
In December 2016, Billboard-Hollywood Reporter Media Group purchased the music publications Spin, Stereogum and Vibe from SpinMedia for an undisclosed amount.
In February 2018, Eldridge announced it would be consolidating three of its entertainment properties into a new company, Valence Media. The properties included Media Rights Capital, an independent movie and TV production company which is the studio that created Netflix shows “Ozark” and “House of Cards”; Dick Clark Productions, a producer of award shows and other live event programming; and the Billboard-Hollywood Reporter Media Group, which includes The Hollywood Reporter and Billboard industry trade publications.
MRC's co-founders Asif Satchu and Modi Wiczyk serve as co-CEOs of Valence and Boehly serves as Chairman. Valence also owns a minority stake in film distributor A24; and London-based production company Fulwell 73.
In December 2019, Valence Media acquired Nielsen Holdings' music data business.
On July 22, 2020, Valence Media rebranded as MRC.