Hollywood Reporter Parent Company to Rebrand as MRC

MRC Logo - H - 2020

The Beverly Hills-based firm unveiled a new structure that will house its entertainment and media assets in six units.

Valence Media, the company formed in February 2018 with divisions that include Dick Clark Productions, indie studio MRC and the Billboard-Hollywood Reporter Media Group, is getting a rebrand. 

The Beverly Hills-based company, led by co-CEOs Asif Satchu and Modi Wiczyk, will now be named MRC and will be divided into six divisions: MRC Data, MRC Film, MRC Live & Alternative, MRC Media & Info, MRC Non-Fiction and MRC Television. The firm also has offices in New York, Kansas City, Tampa, Fairfax, Nashville and Chicago.

MRC Data is comprised of assets from the acquisition of Nielsen Music in December 2019, including analytics platform Music Connect, Broadcast Data Systems and Music360 research reports. The division serves labels, airplay and music retailers as well as digital service providers.

MRC Film, which has financed and produced more than two dozen films since 2006, includes the comedy Lovebirds as well as caper Knives Out on its recent slate. The division is co-financing upcoming studio films including The SpongeBob Movie: Sponge on the Run and Peter Rabbit 2: The Runaway.

MRC Live & Alternative includes Dick Clark Productions, which produces live televised events including the Golden Globes and Billboard Music Awards as well as the Academy of Country Music Awards, American Music Awards, Streamy Awards and other programs. 

MRC Media & Info will house The Hollywood Reporter, Billboard and Vibe as well as Billboard Charts and will produce events including the Pride Summit, Women in Entertainment, Women in Music, Empowerment in Entertainment, Billboard’s annual Power 100 and Latin Music Week, and the Billboard/Vibe Hip Hop and R&B Summit.

MRC Television, launched in 2008, will house the indie TV studio behind shows including Ozark (Netflix), The Outsider (HBO) and The Great (Hulu). Upcoming projects include The Shrink Next Door (Apple TV+) and The Terminal List (Amazon Studios).

MRC's joint ventures include “The Rideback TV Incubator,” with Dan Lin’s production company Rideback, to financially and creatively support TV drama writers from diverse backgrounds, as well as Civic Center Media, a joint venture with UTA, to finance and produce TV series. 

MRC also holds stakes in A-Major Media, a film and television production company focused on Asian American content, and minority stakes in U.K. production company Fulwell 73, film distributor A24, film and television studio T-Street and management and creative platform Sugar23.