In January 2012, Bain Capital LLC and Thomas H. Lee Partners LP announced that it is funding up to $300 million to Ryan Seacrest Media to develop new content and television shows. Ryan Seacrest is the producer and host of the Fox reality TV show American Idol. In 2002, he began as a co-host of the show and a year later became the host of the show. More than 26 million watch the weekly show. In April 2012 he signed a $30 million contract to stay as the host of the show for two years and American Idol XIII is in full swing at this time.
Since 2004, he is also hosting numerous radio shows. He took over the American Top 40 from Casey Kasem in January 2004. In the same year he became the host of the Los Angeles based KIIS’s morning show replacing Rick Dees and the show is broadcast over 150 stations in North America.
In 2005, Ryan Seacrest became the executive producer and the co-host of the Dick Clark’s New Year’s Rockin’ Eve. Since Dick Clark’s debilitating medical issues and April 2012 death, he is hosting much of the show now. The 40th show attracted more than 22.6 million viewers giving the show number one spot.