dick clark productions Acquired by RedZone Capital

TYSONS CORNER, June 19: The Virginia-based private equity
firm RedZone Capital has reached a deal to acquire dick clark productions, inc.
(dcpi), whose current productions include So You Think You Can Dance on FOX, for $175 million.

Six Flags, an operator of amusement parks across the U.S. in
which RedZone is the single largest shareholder, will hold 40 percent of the
company, with 60 percent held by RedZone.

dick clark productions’ credits include The American
Music Awards, The Golden Globes, The Academy of Country Music Awards and Dick Clark's New Year's Rockin' Eve. In addition, the company is home to 10,000 hours of
contemporary live music performances, including American Bandstand's nearly 900 one-hour broadcasts, and has produced a
range of entertainment and comedy titles, children's programming, talk shows,
made-for-TV movies, and more.

"dick clark productions is responsible for some of the
most enduring brands in entertainment," said Daniel M. Snyder, managing
member of RedZone Capital. "This was a rare opportunity to acquire a
powerhouse portfolio and grow it in new directions."

RedZone Capital and dick clark productions have retained
Creative Artists Agency (CAA) to facilitate the exploration and development of
new creative and business opportunities in the areas of television, licensing,
live events, sponsorships and digital media. "The dick clark productions
library has a wealth of largely untapped entertainment assets that will lay the
foundation for exciting new properties and business opportunities," said
Emanuel Nunez, a partner at CAA.

In addition, Six Flags is mulling the launch of So You
Think You Can Dance special events to drive
attendance; award show ticket sweepstakes and promotions to spur Six Flags
season pass sales; a SixFlags.com lottery for backstage passes to the American
Music Awards; exclusive theme park use of dcpi libraries, including American
Bandstand, Bloopers and past award shows for in-park use and marketing;
and American Bandstand concerts
at its amusement parks.

Allen Shapiro has stepped down as CEO of dcpi, to be
replaced by Terry Bateman, formerly the chief marketing officer for the
Washington Redskins, which RedZone owns a minority interest in. Snyder, who is
chairman of the board of Six Flags and will assume the same role with dick
clark productions, will be joined on the new eight-person board by Bateman; as
well as Dwight Schar, chairman of NVR and a managing member of RedZone, and a
member of the Six Flags Board; Mark Shapiro, the president and CEO of Six Flags;
and Dennis Greene, the senior VP of the Washington Redskins.

The company was founded by Dick Clark in 1957. In 2002, as a
publicly traded company, dick clark productions was purchased for $140 million
and taken private by a group of investors including the Canadian pension fund
Capital Communications CDPQ and Mosaic Media Group. In 2004, Mandalay
Entertainment Group purchased Capital Communications' interest and announced it
would partner with Mosaic Media Group to operate the company, forming the new entity
Mandalay Mosaic Television Group.

RedZone Capital, the private equity firm founded by Snyder
and Schar, was launched in 2004. Earlier this year, RedZone Capital purchased
the Johnny Rockets restaurant chain. It is also the owner of Red Zebra Broadcasting,
home of ESPN broadcasts for parts of Washington, D.C. and Virginia, and is the
single largest shareholder of Six Flags.