Media moves: The Hollywood Reporter, Billboard relocate to Beverly Hills

The 2 publications, along with Dick Clark Productions, will move to Eldridge Industries-owned office

Los Angeles /
May.May 14, 2019 04:30 PM
Modi Wiczyk and Asif Satchu with a 100 North Crescent rendering
Valence Media co-CEOs Modi Wiczyk and Asif Satchu with a rendering of  100 North Crescent

Billboard-Hollywood Reporter Media Group and Dick Clark Productions have inked a lease to occupy 118,000 square feet in a Beverly Hills office building, The Real Deal has learned.

Eldridge Industries, a private equity investment firm, owns the building at 100 North Crescent Drive.

The firm is also the parent company of Valence Media, which formed last year, and operates Billboard-Hollywood Reporter Media Group — comprised of the trade publications The Hollywood Reporter and Billboard — Dick Clark Productions and the independent television and film studio MRC. Both Valence and MRC will also have their offices in the Beverly Hills building.

The North Crescent Drive office was built in the 1980s, and has been undergoing renovations recently. Eldridge is expanding the property into a 150,000-square-foot, five-story structure with a ground-floor restaurant. It will include a 100-seat screening room and floor-to-ceiling glass windows. Gensler is leading the project, which Eldridge filed plans for in 2017.

A spokesperson for Valence confirmed the relocation. Eldridge did not respond to requests for comment.

The Hollywood Reporter will move its main office, and Billboard will relocate its Los Angeles operations, both from the Wilshire Courtyard at 5700 Wilshire Boulevard in Miracle Mile. The media firms are the latest to be vacating the 1 million-square-foot campus, which the Onni Group was reported to be buying for $600 million.

Dick Clark Productions will be moving from the Lantana office campus in Santa Monica. Skydance Media recently bought half of the campus for $320 million.

Valence, led by co-CEOs Modi Wiczyk and Asif Satchu, formed last year. The Hollywood Reporter and Billboard focus on the entertainment and music industries, while Dick Clark Productions is known for producing live-event shows. MRC has created hits like the Netflix series, “House of Cards” and the “Ted” films starring Mark Wahlberg.

Eldridge also owns Cain International, which recently partnered with developer Beny Alagem on the One Beverly Hills mixed-use project.


Related Articles

arrow_forward_ios
Mark and Arman Gabay and the Bedford Triangle property (LoopNet, Style Outlets)
Gabays asking $52M for trio of Beverly Hills retail properties
Gabays asking $52M for trio of Beverly Hills retail properties
Richemont Group CEO Jérôme Lambert and 411 N Rodeo Dr (Getty, Google Maps)
Richemont will take over Guess store on Rodeo Drive
Richemont will take over Guess store on Rodeo Drive
City Tower at 333 City Boulevard West (KBS Capital Markets Group)
Opal Holdings pays $150M for Orange County office tower
Opal Holdings pays $150M for Orange County office tower
The Beverly Hills spec mansion that Ekkehart Hassels-Weiler bought in 2019. The property is full of structural defects that Hassels-Weilers alleges developers Ian Livingstone and Max Fowles-Pazdro concealed (Luca Lanzetta Group)
Mansion buyer beware: $43M spec home a “catastrophic failure,” suit alleges
Mansion buyer beware: $43M spec home a “catastrophic failure,” suit alleges
Chrissy Teigen and John Legend with the property (Getty, Douglas Elliman)
John Legend and Chrissy Teigen wave bye to Beverly Hills mansion
John Legend and Chrissy Teigen wave bye to Beverly Hills mansion
Sue Gross and an aerial of the home at 960 N. Alpine Drive (UCI, Google Maps)
Beverly Hills home Ellen DeGeneres sold for $35M is back on market
Beverly Hills home Ellen DeGeneres sold for $35M is back on market
Redcar Properties CEO Jim Jacobsen with Dynasty Center (Google Maps, Industry Partners)
Redcar buys Dynasty shopping center in Chinatown
Redcar buys Dynasty shopping center in Chinatown
Alo Yoga founders Danny Harris and Marco DeGeorge with 9830 Wilshire Blvd (Instagram via DeGeorge, The Vendry)
WeWork signs yoga retailer to 70K sf at Beverly Hills office
WeWork signs yoga retailer to 70K sf at Beverly Hills office
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...