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Penske Media history
Penske Media company history timeline
Penske Media Corporation was founded by Jay Penske in 2003.
Condé Nast had previously in 2003 purchased the assets from Disney Corporation for over $650 million.
The company acquired the Mail.com domain and was renamed to the Mail.com Media Corporation (MMC). By 2008, the company owned digital entertainment properties like OnCars.com, Hollywoodlife.com, Movieline, and MailTimes in addition to operating the Mail.com portal and email service.
In mid-2008, the company received a $35 million growth equity round of financing from a leading private equity fund.
In early 2009, the company announced the purchase of Deadline Hollywood Daily (now known as Deadline.com). The website had previously been operated by publisher, LA Weekly.
In April 2010, MMC purchased Jonathan Geller's Boy Genius Report (BGR), a tech and gadget blog, for an undisclosed amount of money.
In September 2010, the Mail.com Media Corporation announced a transaction in which they would sell the Mail.com email and portal service to Germany-based, United Internet Group, one of the country's leading internet companies.
In October 2012, PMC purchased Variety Inc. including the weekly Variety magazine, Daily Variety, Variety.com, and all associated assets for a reported $25 million from Reed Elsevier.
The paywall was taken down on March 1, 2013 and, after being published for 80 years, the last print edition of Daily Variety was issued on March 19, 2013 and a redesigned Variety magazine launched on March 26, 2013.
In late 2014, PMC purchased Fairchild Fashion Media from Condé Nast for just under $100 million.
In June 2015, Penske Media Corporation formed a partnership with Shutterstock Inc. to compete with Getty Images in the categories of editorial images in the entertainment and fashion industries.
In January 2016, PMC acquired independent film and television platform, Indiewire from SnagFilms, Inc. for an undisclosed amount of money.
Beginning in 2016, Shutterstock had an exclusive right and license to PMC's fashion and entertainment archives.
In January 2017, Penske Media Corporation entered into a joint venture for the Robb Report with Rockbridge, the private equity firm of Dan Gilbert.
In December 2017, Penske Media acquired a majority stake of Rolling Stone magazine from Wenner Media.
In 2018, it expanded further into music with an investment in BuzzAngle Music.
In February 2022, the company acquired a majority stake in Life Is Beautiful Music & Art Festival, which will be run under Rolling Stone.
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Penske Media competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| The Hollywood Reporter | 1930 | $2.0M | 2 | - |
| The Africa Channel | - | $3.4M | 34 | - |
| Lionsgate | 1997 | $3.9B | 3,500 | 11 |
| Anonymous Content | 1999 | $3.0M | 50 | 1 |
| TV One | 2003 | $20.5M | 50 | - |
| Relativity Media | 2004 | $25.0M | 350 | - |
| Media Production | - | $7.3M | 61 | 1 |
| Influence & Co. | 2011 | $640,000 | 50 | - |
| IW Group | 1990 | $37.5M | 5 | - |
| Media Partners | 1993 | $1.1M | 50 | - |
Penske Media history FAQs
Zippia gives an in-depth look into the details of Penske Media, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Penske Media. The employee data is based on information from people who have self-reported their past or current employments at Penske Media. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Penske Media. The data presented on this page does not represent the view of Penske Media and its employees or that of Zippia.
Penske Media may also be known as or be related to Penske Media, Penske Media Corporation and Velocity Services (2003–2007).