Guggenheim Partners, the majority owners of the Los Angeles Dogers, is close to inking a deal to buy Dick Clark Productions, according to a report in The Los Angeles Times.

Guggenheim just recently purchased the Dodgers for more than $2 billion, and the price tag attached to Dick Clark Productions, according to the report, is roughly $385 million. To acquire Dick Clark Productions, Guggenheim outbid Ryan Seacrest, CBS, Core Media Group and private equity firm Colony Capital.

The $385 million price tag reportedly paid by Guggenheim is much more than the company is worth, according to the report.

"As was the case with the Dodgers deal, rival bidders are saying that the price Guggenheim is paying, if accurate, is out of whack with what the company is worth.

Privately held DCP doesn't disclose financial information, but industry executives familiar with the company estimated its annual earnings before interest, taxes, depreciation and amortization (EBITDA) at between $35 million and $40 million, almost double from what it was prior to the Red Zone acquisition. The company also has about $165 million in debt and $18 million in cash.

The valuation that Guggenheim is placing on the company -- 10 times EBITDA -- had other potential suitors shaking their heads. They said a more reasonable price was between $250 million and $300 million.

The Times reports that a formal announcement could be made as soon as next week.