Founded by Mordecai (Modi) Wiczyk and Asif Satchu, the company funds and produces film and television programming.

In 2018, the company merged with Todd Boehly's media assets under Valence Media, with the company as a whole taking on the MRC name in 2020; this included Dick Clark Productions (briefly known as MRC Live & Alternative), audience data firm Luminate (the former Nielsen SoundScan), and the entertainment industry publications Billboard and The Hollywood Reporter.

Productions by the company have included the Netflix series House of Cards and Ozark, and the films Baby Driver, Knives Out, and Ted.

[4][5] In 2007, it funded filmmakers such as Robert Rodriguez, Ricky Gervais, Walter Salles, Ryan Murphy, Richard Kelly, Bennett Miller and Todd Field.

[12] After acquiring rights to produce a U.S. remake of the BBC miniseries House of Cards, MRC would sell the series to the streaming service Netflix in 2011.

[13][14][15] On February 1, 2018, Eldridge Industries, a holding company owned by former Guggenheim Partners president Todd Boehly, announced that it would contribute its media assets — including The Hollywood Reporter, Dick Clark Productions, and Billboard, and merge them with MRC into a new company known as Valence Media.

[22] In August 2022, Eldridge agreed with Wiczyk and Satchu to divide MRC's assets, effectively undoing the 2018 Valence Media merger.

[24] SpinMedia (formerly BuzzMedia) was an American digital publisher that owned a number of pop culture websites, including Spin, Stereogum, Vibe, and The Frisky.

[33] In December of that year, Eldridge Industries acquired Spin, Vibe, Stereogum, and Death and Taxes via the Hollywood Reporter-Billboard Media Group for an undisclosed amount, making Billboard the world's largest music brand in terms of digital traffic and audience share.