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52-925: Eldridge Industries, LLC is an American holding company headquartered in Greenwich, Connecticut , with offices in New York City , London , and Beverly Hills . Eldridge makes investments in various industries including insurance, asset management, technology, sports, media, real estate, and the consumer sector. Eldridge was formed in 2015 by CEO and Chairman Todd Boehly , President Anthony D. Minella, and General counsel Duncan Bagshaw, after Boehly purchased Dick Clark Productions , Billboard and The Hollywood Reporter , and Mediabistro from Guggenheim Partners . In 2019, Eldridge increased its investment in Maranon Capital, an investment manager, resulting in Eldridge holding

104-426: A $ 30 million investment round for artificial intelligence company Netomi . The company also led a $ 600 million debt funding round for Digital Currency Group . In January 2022, Eldridge led a $ 210 million investment round for Canadian financial technology company Koho . In December 2023, Koho reached an $ 800 million valuation and had over 1 million users. The company led investment rounds for Cross River Bank , which

156-492: 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, which rebranded as MRC on July 20, 2020. The properties included Media Rights Capital ,

208-491: A breaking news event occurs. … Race, ethnicity, or any other demographic characteristic of the people posting public social media posts about events is never part of determining whether a breaking news alert is sent to First Alert clients." It also said that "First Alert does not enable any type of geospatial analysis. First Alert provides no feature or function that allows a user to analyze the locations of specific social media posts, social media users or plot social media posts on

260-708: A daily fantasy sports contest provider. DraftKings purchased a stake in Vivid from Eldridge, when the company went public in October 2021. Eldridge also has a stake in the Los Angeles Dodgers ; Chavez Ravine, the acreage around Dodger Stadium; Cloud9 ; and Fanatics, Inc. . Eldridge has invested in fintech companies PayActiv , Stash and Truebill. In February 2021, Stash reached a value of over $ 1.4 billion. Eldridge has invested in technology companies Cutover, Digital Asset, and Capital Integration Systems (CAIS). CAIS announced

312-557: A film and television studio which created Netflix shows Ozark and House of Cards ; Dick Clark Productions; and the Billboard - The Hollywood Reporter Media Group. At the time, MRC owned a minority stake in film distributor A24 ; and London-based production company Fulwell 73 . In December 2019, Valence acquired Nielsen Holdings ' music data business . In January 2020, MRC sold music publications Spin and Stereogum to Next Management Partners. In November 2020, Eldridge acquired

364-597: A founding member of the Allbright Alliance, a collective initiative to increase opportunities for women in the workforce. Eldridge partnered with AECOM to create the real estate investment firm Eldridge Acre Partners. The firm launched in May 2024 with $ 1 billion in assets, and Eldridge Industries as the majority owner. Eldridge Industries partnered with Raymond James Financial later that same year. Eldridge's special-purpose acquisition company Horizon Acquisition Corporation

416-722: A large ticket commercial finance and leasing company, and co-owns Cain International , a London-headquartered real estate firm with an estimated $ 17 billion in assets under management. Cain owns The Beverly Hilton in Los Angeles, 830 Brickell , Missoni Baia , the Una Residences in Miami, and the Delano South Beach , which is under renovation as part of a joint venture with Accor. Cain also invested in hospitality group Aman Group , and

468-766: A majority ownership stake in the company. In December 2020, Eldridge provided financing to Ark Invest , allowing ARK founder Cathie Wood to remain majority shareholder of the company. In January 2021, the College of William & Mary announced that it had partnered with Eldridge to develop a series of courses related to fiscal policy at the Mason School of Business . In 2021, some of Eldridge's credit management operations spun out to create Panagram Structured Asset Management. Panagram launched its first collateralized loan obligations (CLOs) exchange-traded fund in February 2023, with

520-645: A net income of $ 1.2 billion in 2023. The firm also owns Zinnia (formerly SE2), an end-to-end insurance software provider. Zinnia acquired Breathe Life, a SaaS insurance platform, in 2022 and acquired online insurance marketplace Policygenius in 2023, and technology company Ebix in 2024. In 2021, Eldridge participated in a $ 60 million investment in financial services company Buckle. The company invested in DPL Financial Partners in January 2021 and September 2022. In 2022,

572-612: A new company and keeps majority shares with itself, and invites other companies to buy minority shares, it is called a parent company. A parent company could simply be a company that wholly owns another company, which is then known as a " wholly owned subsidiary ". Dataminr Dataminr employs around 800 people and is headquartered in New York . The company has offices in New York City , Washington, D.C. , Bozeman , and Seattle , as well as London, England , Dublin, Ireland , Melbourne, Australia , and Copenhagen, Denmark . Dataminr

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624-539: A number of bylaws to prevent member misconduct and conflicts of interest. Members of the Golden Globes Association now receive a salary and are held to a higher level of accountability. In January 2023, the Golden Globe Awards returned to NBC after not having been televised the previous year. The 2023 show was described by some critics as a comeback for the association, receiving particular praise for

676-513: A parent company material influence if they are the largest individual shareholder or if they are placed in control of the running of the operation by non-operational shareholders.) In the United Kingdom, the term holding company is defined by the Companies Act 2006 at section 1159. It defines a holding company as a company that holds a majority of the voting rights in another company, or

728-498: A private company to manage the intellectual property of the Golden Globes. The HFPA's philanthropic activities will be spun off into a non-profit organization. In January 2023, Dick Clark Productions, the producer of the Golden Globes, was acquired by the joint venture Penske Media Eldridge. Under Eldridge's ownership, the organization announced a series of planned reforms, to improve accountability and inclusion. These reforms include

780-647: A real-time crisis response platform based in Copenhagen , Denmark. According to reports from The Intercept , Dataminr has provided social media surveillance on lawful, constitutionally-protected pro-abortion rights protests to the US Marshals. In 2020, The Intercept released a report that police departments used Dataminr services for surveillance during the George Floyd protests , including accessing social media posts about protest locations and actions. As written in

832-532: A second ETF launched in July of that year. Eldridge owned CBAM Partners, an SEC -registered investment advisor. Eldridge sold CBAM Partners, an SEC-registered investment advisor, to The Carlyle Group for $ 787 million in 2022. In October 2022, the company participated in a $ 20 million investment round for Protein Evolution, Inc. which develops enzymes used in the recycling of plastics and textiles. In 2023, Eldridge became

884-506: A stake in Epic Games which was sold back to Epic in 2021. Eldridge has made multiple investments into Truebill, including participating in a $ 45 million funding round in 2021, after leading a Series B round in 2019. Truebill was acquired by Rocket Companies in 2021. Eldridge participated in a $ 235 million in AI security company Oosto (formerly AnyVision) in July 2021, after previously investing in

936-648: A €1 billion investment in March 2020. In December 2021, Eldridge acquired a minority interest in Langdon Park Capital, a Black-owned real estate investment company." Langdon Park Capital subsequently acquired 200 housing units in Los Angeles as part of a strategy to create affordable housing for the Black and Latino communities. Eldridge owns Security Benefit Life Insurance, an insurer with $ 49.9 billion in assets. It had

988-499: Is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own stock of other companies to form a corporate group . In some jurisdictions around the world, holding companies are called parent companies , which, besides holding stock in other companies, can conduct trade and other business activities themselves. Holding companies reduce risk for

1040-624: Is a member of another company and has the right to appoint or remove a majority of its board of directors, or is a member of another company and controls alone, pursuant to an agreement with other members, a majority of the voting rights in that company. After the financial crisis of 2007–2008 , many U.S. investment banks converted to holding companies. According to the Federal Financial Institutions Examination Council 's website, JPMorgan Chase , Bank of America , Citigroup , Wells Fargo , and Goldman Sachs were

1092-471: Is defined by Part 1, Section 5, Subsection 1 of the Companies Act, which states: 5.—(1) For the purposes of this Act, a corporation shall, subject to subsection (3), be deemed to be a subsidiary of another corporation, if — In the United Kingdom, is generally held that an organisation holding a 'controlling stake' in a company (a holding of over 51% of the stock) is in effect the de facto parent company of

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1144-652: Is developing One Beverly Hills, a mixed-use site that includes the Beverly Hilton, the Waldorf-Astoria Beverly Hills, and an Aman Hotel, Residences & Club which broke ground in 2024. Eldridge seeded Essential Properties Realty Trust, a REIT that went public in June 2018. In October 2019, Eldridge invested $ 300 million in real estate investment company Kennedy Wilson . Eldridge co-founded Blackbrook Capital, an independent European real estate investment firm, with

1196-617: Is partially owned by Eldridge. Eldridge was part of a group of creditors who invested $ 1.2 billion in Canadian company Cirque du Soleil in 2020. Eldridge invested in virtual reality entertainment company Illuminarium Experiences, as part of a $ 100 million investment. The company led a $ 3.4 million funding round for food delivery marketplace Sesame in December 2021. Eldridge has also invested in agricultural and industrial chemical producer LSB Industries. Eldridge owns Stonebriar Commercial Finance,

1248-658: Is produced by Dick Clark Productions, was renewed with ABC through 2029. Dick Clark Productions partnered with Spotify to relaunch the Billboard Music Awards as a digital event in 2023. Boehly became interim CEO of the Hollywood Foreign Press Association (HFPA), the organizer of the Golden Globe Awards , in 2021. In July 2022, it was announced that Eldridge would acquire the HFPA, and establish

1300-476: The broadcast licenses to reflect this, resulting in stations that are (for example) still licensed to Jacor and Citicasters , effectively making them such as subsidiary companies of their owner iHeartMedia . This is sometimes done on a per- market basis. For example, in Atlanta both WNNX and later WWWQ are licensed to "WNNX LiCo, Inc." (LiCo meaning "license company"), both owned by Susquehanna Radio (which

1352-442: The shareholders , and can permit the ownership and control of a number of different companies. The New York Times uses the term parent holding company . Holding companies can be subsidiaries in a tiered structure . Holding companies are also created to hold assets such as intellectual property or trade secrets , that are protected from the operating company. That creates a smaller risk when it comes to litigation . In

1404-656: The FBI was taken over by Zerofox at the end of 2020. On the morning of January 5, 2021, Dataminr allegedly warned Capitol security officials of troubling online public chatter that would soon become the January 6 riot . In July 2021, Dataminr conducted its first M&A transaction when it acquired WatchKeeper, a UK-based geovisualization platform. In the acquisition, Dataminr combined WatchKeeper's geovisualized data layers with its Pulse platform to provide context around events. A few months later, in October 2021, Dataminr acquired Krizo,

1456-621: The Middle East, with headquarters in Lagos and Dubai . It was announced that music executive Sipho Dlamini was president of its operations in Africa and the Middle East, and Naomi Campbell joined as a special advisor. Gamma co-produced and released the soundtrack album for The Color Purple (2023) . The company received a $ 100 million investment in February 2024, bringing its valuation to $ 400 million. In 2023, Dick Clark's New Year's Rockin' Eve , which

1508-502: The United States, 80% of stock, in voting and value, must be owned before tax consolidation benefits such as tax-free dividends can be claimed. That is, if Company A owns 80% or more of the stock of Company B, Company A will not pay taxes on dividends paid by Company B to its stockholders, as the payment of dividends from B to A is essentially transferring cash within a single enterprise. Any other shareholders of Company B will pay

1560-515: The acquisition of Bruce Springsteen 's recorded music and songwriting catalogue. The deal, which was estimated to be between $ 500 million and $ 600 million, was reportedly the largest transaction for an individual artist's music rights to date. In August 2022, Eldridge and MRC reached an agreement to separate their assets. Eldridge became a minority stakeholder in MRC, acquired ownership of Dick Clark Productions and Billboard-Hollywood Reporter Media Group from

1612-470: The addition of new Golden Globes voters to increase the diversity of its membership, which had previously been criticized for a lack of Black representation. In 2023, the organization added 215 international members to its voting body. This increased the total number of voters from 95 voters prior to Eldridge’s ownership to 310 voters, with 52% of the expanded voting body identifying as ethnically diverse and 17% identifying as LGBTQ+ . The organization introduced

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1664-433: The article, "The monitoring seems at odds with claims from both Twitter and Dataminr that neither company would engage in or facilitate domestic surveillance following a string of 2016 controversies." Twitter claimed that the company was just "news alerting." In response to the article, Dataminr clarified that "First Alert identifies breaking news events without any regard to the racial or ethnic composition of an area where

1716-545: The company had over $ 1 billion in annuity sales, this doubled to $ 2 billion in 2023. That year, Eldridge invested in PPRO Financial and Clearcover Insurance. Hudson Structured Capital Management refinanced in 2021, with Eldridge as its principal backer. 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. The Clio Awards,

1768-637: The company in 2018. The company also invested in biotechnology company Quantum-Si in 2021. Eldridge invested in digital health platform Wellthy in May 2020, and participated in the company's funding round for 2021, and $ 25 million funding round in 2023. Eldridge also participated in a $ 62 million investment round for fertility services company Kindbody, which was ranked #30 on the Deloitte Technology Fast 500 in 2023. Eldridge also acquired sporting goods producer G-Form, which produces Smart-Flex athletic gear. In November 2021, Eldridge participated in

1820-473: The company invested in Cloudframe and materials science company Recover. Eldridge led a $ 400 million investment round for Velocity Global, and took a seat on its board of directors in 2022. Eldridge also invested in AI parking management company Metropolis Technologies, and led a $ 1.7 billion funding round for the company ahead of Metropolis' $ 1.5 billion acquisition of SP Plus Corporation in 2023. The acquisition

1872-699: The company, and retained its investments in ventures such as Penske Media, A24 and Luminate Data . In 2023, Eldridge and Penske formed the joint venture Penske Media Eldridge, which owns or co-owns properties such as SXSW, Life Is Beautiful, ATX Television Festival , and Dick Clark Productions. In 2023, it was announced that Eldridge was the largest investor in Gamma, a music media company founded by Larry Jackson. The company partnered with artists such as Snoop Dogg and Usher , and made plans to develop films with A24. The company recently acquired music distribution platform Vydia, and also launched plans to expand into Africa and

1924-488: The diversity of its nominees and "anything-goes vibe." Michael Schulman of The New Yorker described the atmosphere as "alternately witty and moving." The broadcast had 6.3 million viewers and made 24.2 billion impressions on social media. In June 2023, the Attorney General of California approved the dissolution of the HFPA and its reorganization into a commercial enterprise under Eldridge. As part of this reformation,

1976-431: The firm, having overriding material influence over the held company's operations, even if no formal full takeover has been enacted. Once a full takeover or purchase is enacted, the held company is seen to have ceased to operate as an independent entity but to have become a tending subsidiary of the purchasing company, which, in turn, becomes the parent company of the subsidiary. (A holding below 50% could be sufficient to give

2028-458: The first body) is a subsidiary of another body corporate if, and only if: Toronto-based lawyer Michael Finley has stated, "The emerging trend that has seen international plaintiffs permitted to proceed with claims against Canadian parent companies for the allegedly wrongful activity of their foreign subsidiaries means that the corporate veil is no longer a silver bullet to the heart of a plaintiff's case." The parent subsidiary company relationship

2080-525: The first signals of the COVID-19 outbreak within public social media posts. The company went on to detect clusters indicating future spikes in 14 different US states. Seven days later, all 14 states were hit hard by the coronavirus. Dataminr partnered with the UN in May 2019 to equip thousands of UN personnel with Dataminr's First Alert product for the public sector. Dataminr's social media intelligence contract for

2132-605: The five largest bank holding companies in the finance sector, as of December 2013 , based on total assets. The Public Utility Holding Company Act of 1935 caused many energy companies to divest their subsidiary businesses. Between 1938 and 1958 the number of holding companies declined from 216 to 18. An energy law passed in 2005 removed the 1935 requirements, and has led to mergers and holding company formation among power marketing and power brokering companies. In US broadcasting , many major media conglomerates have purchased smaller broadcasters outright, but have not changed

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2184-455: The following requirements are met: A parent company is a company that owns enough voting power in another firm (or subsidiary ) to control management and operations by influencing or electing its board of directors . The definition of a parent company differs from jurisdiction to jurisdiction, with the definition normally being defined by way of laws dealing with companies in that jurisdiction. When an existing company establishes

2236-725: The launch of CAIS Solutions, a software as a service (SaaS) platform in October 2023. In 2021, Eldridge participated in multiple funding rounds for digital delivery service Gopuff , including the company's $ 1.1 billion financing round. In July 2020, Eldridge invested in a $ 53 million fundraising round for Kernel , a Los Angeles-based neurotechnology company. Eldridge took part in a $ 475 million financing round for artificial intelligence company Dataminr . Eldridge acquired data technology company Knoema in 2020. In 2023, Knoema rebranded as Seek. Eldridge has invested in The Ready Games and mobile game developer Tripledot Studios. Eldridge held

2288-523: The music publishing rights to American rock band The Killers , covering the band's first five albums. Universal Music Publishing Group will continue to administer the catalogue. In September 2020, it was announced that Penske Media Corporation and MRC would form a joint venture named PMRC. The new venture managed the daily operations of publications such as Billboard , The Hollywood Reporter , Vibe , Variety , Rolling Stone and Music Business Worldwide . A second joint venture between MRC and Penske

2340-511: The philanthropic activities of the HFPA will be handled by the newly formed Golden Globe Foundation, a nonprofit organization. The 2024 Golden Globes aired on CBS on January 7, 2024 and was watched by 9.4 million viewers, the show's highest ratings since before the COVID-19 pandemic. The 2024 Globes included six nominees per category over the former five nominees, and two new awards categories: "Stand-up Comedy" and "Cinematic and Box Office Achievement". Holding company A holding company

2392-491: The usual taxes on dividends, as they are legitimate and ordinary dividends to these shareholders. Sometimes, a company intended to be a pure holding company identifies itself as such by adding "Holding" or "Holdings" to its name. The parent company–subsidiary company relationship is defined by Part 1.2, Division 6, Section 46 of the Corporations Act 2001 (Cth) , which states: A body corporate (in this section called

2444-492: Was also announced, to manage content and intellectual property such as television series, films, and live events including Life Is Beautiful Music & Art Festival and South by Southwest . The venture became the majority owner of South by Southwest in 2021. Eldridge led a $ 3 million funding round for Laylo, a startup fan engagement platform, in 2021. The company led another funding round into Laylo in 2022. In December 2021, Eldridge partnered with Sony Music Group to finance

2496-880: Was completed in May 2024, taking SP Plus private. In 2024, Eldridge also invested in Bilt Rewards, and GPU infrastructure company CoreWeave . Eldridge has backed hospitality group Aurify Brands since it was founded in 2011. Eldridge invested in international bakery-restaurant chain Le Pain Quotidien through Aurify in March 2021. In 2023, Convive Brands was formed to operate Le Pain Quotidien, Little Beet and Little Beet Table, which had been previously operated by Aurify. Eldridge has also invested in pizza restaurant chain Chuck E. Cheese . Thirteenth Floor Entertainment Group, an operator of horror-themed entertainment venues and escape rooms,

2548-574: Was founded in 2009 by Yale University graduates Ted Bailey, Sam Hendel and Jeff Kinsey. Dataminr came to wider notice when it issued an alert that Osama bin Laden had been killed 23 minutes faster than major news organizations. In 2014, Dataminr entered into a partnership with CNN and Twitter, resulting in Dataminr for News, a tool to "alert journalists to information that’s emerging on Twitter in real time." On December 30, 2019, Dataminr claimed to have detected

2600-579: Was founded in June 2020. The company filed for a blank check IPO of $ 575 million in August 2020. Horizon Acquisition Company merged with ticket reseller Vivid Seats in April 2021, taking them public as Vivid on October 19, 2021. Eldridge bought an additional $ 24.4 million in Vivid stock in 2023. Vivid is traded on the Nasdaq . In March 2017, Eldridge led a round of funding estimated at over $ 100 million for DraftKings ,

2652-465: Was later sold to Cumulus Media ). In determining caps to prevent excessive concentration of media ownership , all of these are attributed to the parent company, as are leased stations , as a matter of broadcast regulation . In the United States, a personal holding company is defined in section 542 of the Internal Revenue Code . A corporation is a personal holding company if both of

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2704-540: Was valued at $ 3 billion in March 2022, and an investment round for insurance technology company Accelerant, which reached a $ 2.4 billion valuation in 2023. Accelerant expanded its operations to Canada with the acquisition of Omega Insurance in 2023. In April 2022, Eldridge also led a $ 198 million investment round into digital marketing firm Viral Nation, which also appeared on the Deloitte Fast 500 , and an $ 82 million investment round for e-commerce platform Samcart. In 2022,

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