Truck Yeah: Newly formed Penske Media Eldridge (PME), a live content arm of Penske Media Corporation (PMC) and joint venture with Eldridge, has acquired Dick Clark Productions (DCP), producer of the Academy of Country Music Awards, Golden Globes, AMAs and Dick Clark's New Year's Rockin' Eve, among others. The deal is a part of a larger strategic alliance between PMC, which counts SXSW, Billboard, Rolling Stone, Variety and Luminate among its properites, with DCP's former owner Eldridge, the investment holding company led by Todd Boehly. DCP Pres. Adam Stotsky will step down. "I have long admired DCP’s portfolio of iconic and prominent live entertainment brands and look forward to growing and evolving DCP’s footprint and legacy for future audiences across all platforms," says PMC CEO/Founder Jay Penske. Terms of the sale have not been disclosed.