Dick Clark Productions cut the size of its offering.

Television producer Dick Clark apparently is finding that his company’s initial public stock offering will be less of a hit than he had hoped. The company said it has scaled back the size of the offering to 1.1 million shares from 1.6 million shares. At the same time, the company’s underwriters priced the stock at $6.50 per share, as opposed to the $8 to $10 per share initially projected. Clark will retain about 86% of the company.