Private-equity firm invests in Seacrest’s company
Ryan Seacrest, the radio and TV producer and host of American Idol, has garnered a commitment for as much as $300 million from Thomas H. Lee Partners LP and Bain Capital LLC to fund media ventures.
The private-equity investors will provide capital to Ryan Seacrest Media to buy and develop companies, content and other properties.
The accord deepens the ties between the private-equity groups and Seacrest, who hosts nationally syndicated radio shows carried by San Antonio-based Clear Channel, the largest U.S. radio broadcaster. Ryan Seacrest Productions makes
Keeping Up with the Kardashians, the highest-rated show on the E! cable TV network, as well as spinoff programs.
The production company will remain independent and majorityowned by Seacrest.
Ryan Seacrest Media formed a joint venture this month with billionaire Mark Cuban’s HDNET, AEG and Creative Artists Agency to create a new cable channel, AXS TV, later this year.
His company is also producing two reality series, Melissa and Tye: A New
Reality, for CMT and Bravo’s Shahs of Sunset.