Mike Mahan will be stepping down as CEO of Dick Clark Productions in the second quarter of 2020, the company said Wednesday. He will remain involved in the company in an advisory role, transitioning to Vice Chairman. Effective immediately, dcp’s COO and CFO Amy Thurlow has been promoted to President. She will continue to report to Mahan until she takes over the leadership role at dcp, part of Valance Media, in Q2.
Mahan joined dcp as President in April 2013, following a stint as President of TV Guide and on the heels of dcp’s acquisition by Guggenheim Partners, Mandalay Entertainment and Mosaic Media Investment Partners for reported $350 million. A year later he recruited Thurlow, with whom he had worked at the TV Guide Network.
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With Mahan at the helm and Thurlow as his top lieutenant, dcp has posted six consecutive years of record EBITDA and revenue. The company’s valuation has shot up, with Chinese conglomerate Wanda Group willing to pay $1.1 billion in 2016. (The acquisition ultimately did not go through due to regulatory issues in China.)
“Amy is an extremely talented and dynamic executive, who is poised to drive continued growth and exciting accomplishments at dcp. She is also surrounded by an incredible group of leaders and colleagues who we have the utmost confidence in” said Valence Media co-CEO’s Modi Wiczyk and Asif Satchu. “We are thankful to Mike, whose leadership and creativity helped drive record growth at dcp during his tenure. Luckily, we’ll continue to work closely together and we look forward to supporting his next adventure.”
Nearing the seven-year mark at dcp, Mahan felt it was the right time to try something different. It is unclear what he will do next, but he has an entrepreneurial background and could pursue that. He also is likely to be approached for other top-level media jobs.
“I am incredibly grateful to have led such a special organization and thankful to all of my hardworking and talented colleagues for their support” said Mahan. “I am excited to pass the reins to Amy, who I have had the privilege of working with for more than 10 years, as I know she will successfully steer the company to new heights well into the next decade.”
This was Mahan’s second tour at dcp. He previously served as SVP Corporate Development and played a key role in the company’s successful 2007 sale to Red Zone Capitol.
Mahan was President of the TV Guide Network and TVGuide.com when it was owned by One Equity (JP Morgan) and Lionsgate. He previously worked in private equity where he led and managed a number of investments on behalf of Caisse de dépôt and worked in digital media, specifically with eWanted.com and Checkout.com. Mahan is currently an owner-investor in a number of media, sports, gaming and consumer companies including Los Angeles Football Club, the Oklahoma City Dodgers, Axiomatic (Team Liquid), Epic Games, Aviation Gin and Next VR.
Thurlow was most recently Chief Operating Officer and Chief Financial Officer at dcp for the past five years. She previously held the role of CFO and EVP Sales Strategy for TV Guide Network — at the time a CBS and Lionsgate partnership — where she was integral in selling 50% of the company to CBS. Prior to that, she served in executive roles at NBCUniversal in divisions including corporate finance, corporate development and strategy, CNBC and TV and film distribution.
Dcp’s portfolio of live televised entertainment events include the Golden Globe Awards, Billboard Music Awards, Academy of Country Music Awards, American Music Awards, Streamy Awards and Dick Clark’s New Year’s Rockin’ Eve With Ryan Seacrest.
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