Rolling Stone, which turned 50 this year, has been acquired by Penske Media, the corporation that owns other titles/brands such as Variety, Deadline, Women's Wear Daily and more. Thank you for visiting the Team Penske Press Box and we hope to see you at the track. Media investor Jay Penske said his firm Penske Media was buying a 51% stake in the publication from New York-based Wenner Media. Jay Penske, who also owns entertainment business magazine Variety, and PMC look forward to being a big part of what happens next. Owned by Jay Penske since 2015, it is a brand of the Penske Media Corporation because Penske owns Penske Media Corporation Penske. Penske Motor Group owns and operates Toyota, Lexus, and Mercedes-Benz automobile dealerships in California and Texas. An integral component of life at PMC, employees are encouraged to donate 2% of their time or income annually to the non-profit of their choosing. All Rights Reserved, This is a BETA experience. PMC (Penske Media Corporation) founded by Jay Penske is the parent company of 22 media brands including Variety, Deadline, Hollywood Life and Women's Wear Daily. The deal also includes Billboard and Vibe. With music-industry bible Billboard and hip hop-focused Vibe next to consumer-facing Rolling Stone and Music Business Worldwide, that strategy likely will extend more substantially into the Grammys season as well. Biography. A second partnership with MRC will focus on producing content built around stories from all of the PMC outlets. The deal also includes Billboard and Vibe. Media investor Jay Penske said his firm Penske Media was buying a 51% stake in the publication from New York-based Wenner Media. Providing information, news and commentary in the field of current events relating to entertainment, celebrity gossip, media… Owned by: PENSKE MEDIA CORPORATION Serial Number: 86073525. Both companies said the long-time rivals would continue to operate as independent publications . » NTT IndyCar Series Media Site » NASCAR Media Site. To others, the Internet has brought openness and diversity. 345 product per capita. Penske Media will acquire an ownership interest in Rolling Stone 's majority owner, Wenner Media, shortly after the magazine celebrated its … , have invested considerable resources in similar production and content-development arrangements, trying to keep more of the revenue potential from stories gathered by their writers. © Copyright 2021 Variety Media, LLC, a subsidiary of Penske Business Media, LLC. The new deals will create a new entity, dubbed PMRC, to run the three former MRC publications, which had been on the block for many months. Glassdoor gives you an inside look at what it's like to work at Penske Media, including salaries, reviews, office photos, and more. W is an American fashion magazine published by Future Media Group in print and online. We continue to have shared goals and will continue to collaborate in the future. The answer has significant implications for politics, business, culture, regulation, and innovation. Fuller founded Hollywood Life in 2009 and has co-owned it … This is the Penske Media company profile. Penske Corporation, Inc. (/ pɛn.skiː /) is an American diversified transportation services company based in Bloomfield Township, Oakland County, Michigan. Penske Media Corporation operates as a digital media and information services company. Said CEO Jay Penske in announcing the news: “In the 12 months since PMC’s initial investment into this incredible team and legendary brand, the need to consolidate the Rolling Stone business has become abundantly clear and something that BandLab and their leadership team also recognized and were in full support of.