Who founded Penske Media Corporation and what is his current role in the company?

Penske Media Corporation was founded by Jay Penske in 2003. Since its inception, Jay Penske has held the positions of Chairman and Chief Executive Officer (CEO).

What was Penske Media Corporation's initial name and its original business focus?

The company initially operated under the name Velocity Services, Inc. and focused on affinity marketing and internet services. Affinity marketing involves strategic partnerships between companies to promote products or services to a shared customer base.

How did Velocity Services, Inc. evolve into Mail.com Media Corporation (MMC)?

Velocity Services, Inc. acquired the Mail.com domain, which led to its rebranding and renaming as the Mail.com Media Corporation (MMC).

By 2008, what digital entertainment properties did Mail.com Media Corporation possess?

By 2008, Mail.com Media Corporation's portfolio included digital entertainment properties such as OnCars.com, *Hollywood Life*, *Movieline*, and MailTimes, in addition to managing the Mail.com portal and its associated email service.

What significant financial milestone did Mail.com Media Corporation achieve in mid-2008?

In mid-2008, Mail.com Media Corporation successfully secured a $35 million growth equity round of financing from a leading private equity fund, which is an investment fund that typically invests in private companies or takes public companies private.

When did Mail.com Media Corporation acquire *Deadline Hollywood Daily*?

Mail.com Media Corporation announced the acquisition of *Deadline Hollywood Daily*, which is now known as Deadline.com, in early 2009. This website had previously been managed by the publisher *LA Weekly*.

What joint venture did MMC establish in February 2010 to expand its web presence?

In February 2010, MMC finalized a joint venture with Zee TV for the development of the new India.com web portal and seven other related portals, with the aim of competing effectively against other major web portals.

Which tech and gadget blog did MMC acquire in April 2010, and what were the immediate changes?

In April 2010, MMC purchased Jonathan Geller's *Boy Genius Report* (BGR), a popular tech and gadget blog, for an undisclosed amount. Following the acquisition, MMC moved the blog to a new URL, BGR.com, and broadened its scope of technology coverage, while Geller continued in his role as Editor in Chief.

What transaction occurred with the Mail.com email and portal service in September 2010?

In September 2010, the Mail.com email and portal service was sold to United Internet. Although MMC remained the primary content provider for Mail.com, the email service itself was subsequently operated by United Internet and its GMX email platform.

When did Mail.com Media Corporation officially change its name to Penske Media Corporation?

Mail.com Media Corporation underwent a significant rebranding in 2012, officially changing its name to Penske Media Corporation.

Describe PMC's acquisition of Variety Inc. in October 2012, including the financial details and backing.

In October 2012, PMC acquired Variety Inc., which encompassed the weekly *Variety* magazine, *Daily Variety*, Variety.com, and all associated assets, for an estimated $25 million from Reed Elsevier. This acquisition was supported by financial backing from the hedge fund Third Point LLC, which is a type of investment fund that uses various strategies to generate returns.

What strategic changes did PMC implement for *Variety*'s operations after its acquisition?

Following the acquisition of *Variety*, PMC initiated several strategic changes, including the elimination of the website's paywall, the cessation of the print edition of *Daily Variety*, and increased investment in the digital platform, Variety.com.

When did *Variety*'s paywall come down, and when was the last *Daily Variety* print edition published?

The paywall for Variety.com was removed on March 1, 2013. The last print edition of *Daily Variety* was issued on March 19, 2013, concluding 80 years of publication, and a redesigned *Variety* magazine was launched on March 26, 2013.

Which major fashion media company did PMC acquire in late 2014, and for what approximate value?

In late 2014, PMC acquired Fairchild Fashion Media from Condé Nast for a sum just under $100 million. This acquisition included Fairchild's various print and digital media properties.

Which specific Fairchild properties did PMC acquire, and which ones did Condé Nast retain?

PMC obtained ownership of Fairchild's properties such as *Women's Wear Daily* (WWD), *Footwear News*, and *Beauty Inc.* However, Condé Nast chose to retain ownership of Style.com and *W*.

What partnership did Penske Media Corporation establish in June 2015 concerning its imagery archives?

In June 2015, Penske Media Corporation formed a partnership with Shutterstock, designating Shutterstock as the exclusive licensor for imagery from PMC's extensive fashion and entertainment archives.

What data platform and website focused on awards predictions did PMC purchase in July 2015?

In July 2015, PMC acquired Gold Derby, a data platform and website that leverages user and professional predictions to forecast the outcomes and winners of various global awards shows and events.

Which independent film and television publication became part of PMC in January 2016?

In January 2016, PMC acquired IndieWire, an independent film and television publication, from SnagFilms, Inc. for an undisclosed amount.

Describe PMC's collaboration regarding the *Robb Report* starting in January 2017.

In January 2017, Penske Media Corporation entered into a joint venture for the *Robb Report* with Rockbridge, which is the private equity firm founded by Dan Gilbert.

How did Penske Media Corporation eventually become the full owner of *Rolling Stone* magazine?

Penske Media initially acquired a majority stake of 51 percent in *Rolling Stone* magazine from Wenner Media in December 2017. Subsequently, in January 2019, it purchased the remaining 49 percent stake from BandLab Technologies, thereby securing full ownership of the publication.

What additional acquisitions and investments did PMC make in the music and art sectors between 2017 and 2018?

Between 2017 and 2018, PMC expanded its presence in the music and art sectors through an investment in BuzzAngle Music and the acquisition of Art Media Holdings, which includes prominent art publications such as *Art in America* and *ARTnews*.

What was the nature and impact of the joint venture with MRC announced in September 2020?

On September 23, 2020, PMC announced a joint venture with MRC, named PMRC, under which PMC would assume operations of MRC Media & Info publications, including *The Hollywood Reporter* and *Billboard* magazine. In exchange, MRC committed to forming a second joint venture focused on developing content linked to PMRC publications.

What significant stake did PMC acquire in the South by Southwest festival in 2021?

In 2021, Penske Media Corporation acquired a 50 percent stake in South by Southwest, a renowned annual event that combines film, interactive media, and music festivals and conferences.

What happened to the *Hollywood Life* website in 2021?

In 2021, PMC sold *Hollywood Life*, an entertainment, celebrity, and fashion news website that targeted women aged 18 to 35, attracted 35 million monthly visitors, and was founded by Bonnie Fuller.

Which major music and art festival did PMC acquire a majority stake in during 2022, and under which division was it placed?

In 2022, the company acquired a majority stake in the Life Is Beautiful Music & Art Festival, held in Las Vegas. This festival was subsequently integrated and placed under the *Rolling Stone* division.

Which contemporary art magazines did PMC acquire in 2022, and what was the outcome for one of them?

In 2022, PMC acquired the contemporary art magazine *Artforum* and *Bookforum*. However, *Bookforum* ceased its publications on December 12 of that same year.

What new cultural event did PMC launch in Los Angeles in 2022?

In 2022, Penske Media Corporation launched the LA3C, a new music festival situated in Los Angeles, California, aimed at celebrating culture and community.

How did PMC gain a stake in Dick Clark Productions in January 2023?

In January 2023, a stake in Dick Clark Productions, a prominent producer of award shows and other entertainment content, was transferred to PMC through the joint venture known as Penske Media Eldridge.

What significant investment did PMC make in Vox Media in February 2023?

In February 2023, PMC became the largest shareholder in Vox Media by acquiring a 20% stake in the company, which also resulted in Jay Penske joining Vox Media's board of directors.

What is *Variety* magazine known for, and what was its acquisition cost for PMC?

*Variety* magazine is recognized as a leading trade paper for the entertainment industry, having been founded in 1905. PMC acquired the publication, including its digital and data platforms, in 2012 for approximately $30 million.

What was the original focus of *Rolling Stone* magazine upon its founding?

Upon its founding in San Francisco in 1967 by Jann Wenner and Ralph J. Gleason, *Rolling Stone* magazine was initially celebrated for its in-depth musical coverage and its impactful political reporting, notably featuring the work of Hunter S. Thompson.

How has *Rolling Stone*'s editorial focus evolved over time, particularly under PMC's ownership?

In the 1990s, *Rolling Stone* broadened its editorial scope to appeal to a younger readership, incorporating content on youth-oriented television shows, film actors, and popular music. Under PMC's ownership, the American edition of *Rolling Stone* transitioned to a monthly publication format, maintaining a blend of music coverage with politics and popular culture articles.

In how many international markets does *Rolling Stone* magazine currently publish?

*Rolling Stone* operates as an international media brand, publishing magazines in 15 countries worldwide, including significant markets such as China, Australia, India, and the United Kingdom.

What type of content is featured in *Robb Report* magazine?

The *Robb Report* is an American English-language luxury-lifestyle magazine that highlights a diverse range of high-end products and experiences, including luxury automobiles, aviation, boating, real estate, and watches.

Who founded *Deadline Hollywood*, and when did Penske Media acquire it?

*Deadline Hollywood*, also known as Deadline.com, originated as a news blog called *Deadline Hollywood Daily*, founded by Nikki Finke in 2006. Penske Media acquired this online magazine in June 2009.

What is Fairchild Fashion Media, and which of its publications is considered the 'Bible of the fashion industry'?

Fairchild Fashion Media is a company specializing in digital media, publishing, and events, with a portfolio of fashion-related content properties. Among its publications, *Women's Wear Daily* (WWD) is widely regarded as the 'Bible of the fashion industry'.

When was *Sportico* launched by PMC, and what specific industry does it cover?

PMC announced the launch of *Sportico* on April 2, 2020, and it officially commenced operations on June 30, 2020. This new vertical is dedicated to covering the sports business and media industries, providing specialized insights into their commercial aspects.

How did *Sportico* enhance its coverage of college sports in December 2020?

To expand its coverage of the college sports industry, *Sportico* acquired *The Intercollegiate*, a college sports media outlet, on December 14, 2020, and subsequently integrated two writers from that publication into its team.

What is *Bollywood Life*, and what is its reported reach in terms of users and social media followers?

BollywoodLife.com is an entertainment and celebrity news website that focuses on Indian popular culture. It has reportedly achieved a significant reach, with over 20 million monthly active users and more than 5 million social media followers.

When was *Gold Derby* founded, and what awards does it present?

*Gold Derby* was founded in 2000 as an entertainment news forum. After shifting its focus to awards predictions, it was acquired by PMC in 2015. The platform has been presenting the *Gold Derby* TV and Film Awards since 2002.

Beyond its major publications, what are some other notable properties under the PMC banner?

In addition to its major publications, other notable properties under the PMC banner include the *Boy Genius Report* (BGR.com), a tech and gadget blog, TVLine, SHE Media, and Sourcing Journal.

What is BGR.com, and when did PMC acquire it?

BGR.com, also known as *Boy Genius Report*, is a tech and gadget blog that was originally founded by Jonathan Geller. Penske Media Corporation acquired this blog in 2010.

What strategic investment did Penske Media make in 2020 concerning event management?

Since 2020, Penske Media has maintained a strategic investment in LDJ Productions, a company that specializes in strategic event management, indicating its interest in the live events sector.

Where is Penske Media's headquarters located, and with whom does it co-own the property?

Penske Media co-owns its headquarters, located at 475 Fifth Avenue, having partnered with RFR Holding to purchase the property in 2022.

Who are some of the key individuals in Penske Media Corporation's leadership team?

Key individuals in Penske Media Corporation's leadership team include Jay Penske as Chairman and CEO, Bonnie Fuller as President and Editor-in-Chief of *Hollywood Life*, Steven Gaydos as Executive Vice President and Content Executive Editor for *Variety*, Samantha Skey as CEO of SHE Media, Jann Wenner as President and COO of Wenner Media, and Gus Wenner as CEO of *Rolling Stone*.

List some of the prominent subsidiaries that operate under Penske Media Corporation.

Penske Media Corporation's prominent subsidiaries include *Artforum*, *ARTnews*, *Art in America*, *Boy Genius Report*, *Deadline Hollywood*, Fairchild Fashion Media (which encompasses *Footwear News* and *Women's Wear Daily*), *IndieWire*, *Music Business Worldwide*, *Robb Report*, *Rolling Stone*, SHE Media (including *BlogHer* and *StyleCaster*), *TVLine*, and *Variety*.

Which publications are specifically identified as properties under the PMRC joint venture?

The publications specifically identified as properties under the PMRC joint venture, a collaboration with MRC, are *Billboard*, *The Hollywood Reporter*, and *Vibe*.

Which brands are listed as former properties of Penske Media Corporation?

The brands listed as former properties of Penske Media Corporation are *Bookforum* and *Hollywood Life*, indicating past ownership or operation by PMC.

Name some of the major award shows that are part of Dick Clark Productions' portfolio, a company partly owned by PMC.

Dick Clark Productions, which is partly owned by PMC through a joint venture, includes the ownership of several major award shows such as the Golden Globe Awards, American Music Awards, Streamy Awards, Academy of Country Music Awards, and the *Billboard* Music Awards.

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What is PMC?

A Dynamic Media Conglomerate

Penske Media Corporation (PMC) stands as a prominent American mass media, publishing, and information services company. Headquartered in Los Angeles and New York City, PMC has cultivated an expansive portfolio encompassing over 20 digital and print brands. Founded in 2003 by Jay Penske, who continues to serve as its Chairman and CEO, PMC has evolved from its initial focus on affinity marketing and internet services into a multifaceted media entity.

Diverse Digital and Print Brands

PMC's influence spans across various sectors of popular culture, business, and lifestyle. Its impressive roster of publications includes globally recognized names such as Variety, Rolling Stone, Women's Wear Daily, Deadline Hollywood, Billboard, The Hollywood Reporter, Boy Genius Report, Robb Report, Artforum, and ARTnews. This diverse collection positions PMC as a significant player in shaping public discourse and industry trends across multiple domains.

Beyond Publications: Events and Productions

Beyond its core publishing activities, Penske Media Corporation extends its reach into live events and entertainment production. The company owns the Life Is Beautiful Music & Art Festival and holds a 50 percent stake in the renowned South by Southwest (SXSW) festival. Furthermore, PMC is the owner of Dick Clark Productions, a powerhouse in award show production, responsible for events such as the Golden Globe Awards, American Music Awards, Streamy Awards, Academy of Country Music Awards, and the Billboard Music Awards. This integration of content creation with event management highlights PMC's comprehensive approach to media and entertainment.

Evolutionary History

Founding and Early Ventures (2003–2011)

Penske Media Corporation commenced its journey in 2003 as Velocity Services, Inc., initially focusing on affinity marketing and internet services. A pivotal moment occurred with the acquisition of the Mail.com domain, leading to its rebranding as Mail.com Media Corporation (MMC). By 2008, MMC had expanded its digital footprint to include entertainment properties like OnCars.com, Hollywood Life, Movieline, and MailTimes, alongside its Mail.com portal and email service. The company secured a substantial $35 million growth equity financing round in mid-2008, signaling its burgeoning potential.

2009: Acquired Deadline Hollywood Daily (now Deadline.com), previously operated by LA Weekly.
2010 (February): Formed a joint venture with Zee TV to establish the India.com web portal and seven other portals, aiming to compete in the major web portal market.
2010 (April): Purchased Jonathan Geller's tech and gadget blog, Boy Genius Report (BGR), for an undisclosed sum, relocating it to BGR.com and broadening its technology coverage.
2010 (September): Sold the Mail.com email and portal service to United Internet, while retaining its role as the primary content provider for Mail.com.

Strategic Expansion and Rebranding (2012–2016)

The year 2012 marked a significant transformation as MMC officially rebranded itself as Penske Media Corporation. This period was characterized by strategic acquisitions that dramatically reshaped PMC's market position, particularly in the entertainment and fashion industries. These moves were often backed by substantial financial support, enabling aggressive growth and diversification.

2012 (October): Acquired Variety Inc., including Variety magazine, Daily Variety, and Variety.com, from Reed Elsevier for approximately $25 million, with financial backing from Third Point LLC. PMC subsequently removed Variety.com's paywall, ceased printing Daily Variety, and redesigned Variety magazine.
2014 (Late): Purchased Fairchild Fashion Media from Condé Nast for nearly $100 million. This acquisition included prominent fashion publications such as Women's Wear Daily (WWD), Footwear News, and Beauty Inc.
2015 (June): Partnered with Shutterstock to become the exclusive licensor of imagery from PMC's fashion and entertainment archives.
2015 (July): Acquired Gold Derby, a data platform specializing in user and professional predictions for global awards shows.
2016 (January): Acquired the independent film and television publication IndieWire from SnagFilms, Inc.

Contemporary Growth and Ventures (2017–Present)

In recent years, PMC has continued its trajectory of expansion, venturing into new markets and solidifying its position as a dominant force in media. This era has seen significant investments in music, art, and event management, alongside strategic partnerships and further acquisitions that underscore PMC's dynamic and forward-looking business model.

2017 (January): Entered a joint venture for the Robb Report with Rockbridge, a private equity firm.
2017 (December): Acquired a majority stake in Rolling Stone magazine from Wenner Media, later gaining full ownership in January 2019.
2018: Expanded into music with an investment in BuzzAngle Music.
2017–2018: Acquired SHE Media, Sourcing Journal, and Art Media Holdings (including Art in America and ARTnews).
22020 (September): Announced a joint venture with MRC, known as PMRC, to assume operations of MRC Media & Info publications, including The Hollywood Reporter and Billboard magazine.
2021: Purchased a 50 percent stake in South by Southwest (SXSW) and sold Hollywood Life.
2022: Acquired a majority stake in Las Vegas' Life Is Beautiful Music & Art Festival, launched the LA3C music festival in Los Angeles, and acquired the contemporary art magazine Artforum and Bookforum (though Bookforum ceased publication later that year).
2023 (January): A stake in Dick Clark Productions was sold to PMC via the joint venture Penske Media Eldridge.
2023 (February): Became the largest shareholder in Vox Media, acquiring a 20% stake, with Jay Penske joining Vox Media's board.

Key Brands & Properties

Variety

A cornerstone of the entertainment industry, Variety magazine, founded in 1905, serves as a leading trade paper. PMC acquired Variety in 2012, subsequently transforming its digital presence by removing its paywall and ceasing the print edition of Daily Variety to focus on a redesigned weekly magazine and robust online platforms.

Rolling Stone

Rolling Stone, an iconic international media brand established in 1967, is fully owned by PMC since 2019. Initially celebrated for its music coverage and political reporting, the magazine has evolved to encompass popular culture, film, and television, maintaining its relevance across 15 countries globally.

Robb Report

The Robb Report is a premier American English-language luxury-lifestyle magazine. It curates content on high-end products and experiences, including luxury automobiles, aviation, boating, exclusive real estate, and exquisite timepieces, catering to an affluent readership.

Deadline Hollywood

Known as Deadline.com, this online magazine, founded by Nikki Finke in 2006, is a critical source for breaking entertainment news. Acquired by PMC in 2009, Deadline Hollywood provides timely updates and insights into the film, television, and media industries.

Fairchild Fashion Media

Fairchild Fashion Media, acquired by PMC in 2014, is a comprehensive digital media, publishing, and events company dedicated to the fashion industry. Its flagship publication, Women's Wear Daily (WWD), is widely regarded as the "Bible of the fashion industry," complemented by other influential titles like Footwear News and Beauty Inc.

Gold Derby

Established in 2000 as an entertainment news forum, Gold Derby was acquired by PMC in 2015. It has since become a leading platform for awards predictions, leveraging both user and professional insights to forecast winners across various global award shows. The platform also hosts its own Gold Derby TV and Film Awards.

Sportico

Launched by PMC in April 2020, Sportico is a specialized vertical dedicated to sports business and media. It provides in-depth analysis and news on the financial and operational aspects of the sports industry, expanding its coverage to include college sports through the acquisition of The Intercollegiate.

Bollywood Life

BollywoodLife.com is a prominent entertainment and celebrity news website focused on Indian popular culture. As part of Penske Media Corporation, it has achieved significant reach, reportedly attracting over 20 million monthly active users and more than 5 million social media followers, making it a key voice in the Indian entertainment landscape.

Other Notable Properties

PMC's extensive portfolio also includes Boy Genius Report (BGR.com), a popular tech and gadget blog; TVLine, a source for television news; SHE Media, a digital media company for women; and Sourcing Journal, a publication for the global supply chain. Additionally, PMC holds strategic investments in companies like LDJ Productions, an event management firm, and co-owns its headquarters at 475 Fifth Avenue.

Awards & Events

Dick Clark Productions

Through a joint venture with Penske Media Eldridge, PMC acquired a stake in Dick Clark Productions in January 2023. This acquisition significantly bolsters PMC's presence in live entertainment and award show production, leveraging Dick Clark Productions' long-standing expertise and iconic events.

Premier Award Ceremonies

Dick Clark Productions is renowned for producing some of the most prestigious and widely watched award shows in the entertainment industry. These include the Golden Globe Awards, celebrating excellence in film and television; the American Music Awards, honoring achievements in popular music; the Streamy Awards, recognizing online video creators; the Academy of Country Music Awards; and the Billboard Music Awards, which celebrate chart-topping artists.

Festivals and Cultural Ventures

PMC's engagement in cultural events extends to major festivals. The company holds a majority stake in the Life Is Beautiful Music & Art Festival in Las Vegas, a vibrant annual event combining music, art, culinary experiences, and thought-provoking speakers. Furthermore, PMC is a 50% stakeholder in South by Southwest (SXSW), the influential annual conglomerate of film, interactive media, and music festivals and conferences held in Austin, Texas. In 2022, PMC also launched the LA3C, a new music festival in Los Angeles, further cementing its role in live entertainment.

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Penske Media Corporation: A Global Media Powerhouse Unveiled

💡 Dive in with Flashcard Learning! 💡

What is PMC? 💡

🏢 A Dynamic Media Conglomerate

🌐 Diverse Digital and Print Brands

🎉 Beyond Publications: Events and Productions

Evolutionary History 📈

🌱 Founding and Early Ventures (2003–2011)

🚀 Strategic Expansion and Rebranding (2012–2016)

🌟 Contemporary Growth and Ventures (2017–Present)

Key Brands & Properties 📰

🎬 Variety

🎸 Rolling Stone

💎 Robb Report

🚨 Deadline Hollywood

👗 Fairchild Fashion Media

🏅 Gold Derby

🏈 Sportico

🇮🇳 Bollywood Life

📱 Other Notable Properties

Awards & Events 🏆

🌟 Dick Clark Productions

gala Premier Award Ceremonies

🎶 Festivals and Cultural Ventures

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📜 Important Notice

Dive in with Flashcard Learning!

What is PMC?

A Dynamic Media Conglomerate

Diverse Digital and Print Brands

Beyond Publications: Events and Productions

Evolutionary History

Founding and Early Ventures (2003–2011)

Strategic Expansion and Rebranding (2012–2016)

Contemporary Growth and Ventures (2017–Present)

Key Brands & Properties

Variety

Rolling Stone

Robb Report

Deadline Hollywood

Fairchild Fashion Media

Gold Derby

Sportico

Bollywood Life

Other Notable Properties

Awards & Events

Dick Clark Productions

Premier Award Ceremonies

Festivals and Cultural Ventures

Teacher's Corner

True or False?

Test Your Knowledge!

Gamer's Corner

Discover other topics to study!

References

Feedback & Support

Disclaimer

Important Notice