Angels – 23 September 2020 – Independent leadership The media And entertainment companies Penske Media Corporation (PMC), MRC Today, it announced a deal to create two joint ventures in the publishing and content space, with the two companies holding significant ownership. The announcement, which takes effect today with a transition period through the end of 2020, was made public by PMC CEO Jay Benske and MRC CEO Asif Sacho and Moody Wasek.
The first joint venture to establish PMRC which houses some of the most well-known brands in entertainment and music. These premium brands include PMC’s Rolling Stone variety And Musical work Global Interests Together with T of MRCThe Hollywood Reporter, painting And energy. Together, these brands provide clients with opportunities to reach an influential audience at scale through editorial, advertising, and other marketing solutions. PMC will lead the day-to-day operations of PMC, a leading digital media company and platform innovator that encompasses an ever-growing constellation of iconic brands Deadline, WWD, SHE Media, Sportico, Rob report, Among many others.
“These are all brands that I have admired for a long time. paintingAnd The Hollywood ReporterAnd and energy They have created some of the best content in their own industries and have greatly contributed to raising the quality of journalism that covers entertainment and music today, ”Penske said.“ We feel very fortunate for this valuable partnership with the extraordinary MRC team and the opportunity to continue the legacy of these tremendous brands over the next several decades. . “
“We have a lot of respect varietyAnd Rolling rock Music Business Worldwide and, most importantly, the leadership at PMC that we got to know very well and look forward to partnering with them on each of these businesses, ”said Satchu and Wiczyk.
The second joint venture includes a new content partnership that will revitalize the strength of production infrastructure and MRC expertise across PMRC’s intellectual property (IP). It is worth noting that the joint venture includes two important international brands of music at a time of widespread interest in music-based content. MRC will be mandated to develop the brand’s collective IP address across all content sections including TV, Film, Direct and Non-fiction. MRC has a proven track record with a list of award-winning and popular titles reaching hundreds of millions of unique viewers annually including: Emmy nominee Ozark, The Great, The Outsider, Golden Globe Awards, Fire Fraud; Best-in-class Live Event Music Series, incl Billboard Music Awards And American Music Awards, An Academy Award and a Golden Globe Take out the knives And other famous movies, like Ted And Child driver. The Migrant Resource Center will manage the Longstanding Content Alliance.
Highlights of Transactions:
- PMRC has become the home of legendary publishers and brands: Variety, The Hollywood Reporter, Rolling Stone, Billboard, Vibe, and Music Business Worldwide.
- The joint content project complements MRC’s expertise in producing award-winning high-profile titles across film, television, reality and live events.
- In the future, The Hollywood Reporter, Billboard and Vibe will leverage Penske Media’s infrastructure and be positioned on PMC’s technology and delivery platforms.
- The MRC will collaborate with PMRC brands to create new opportunities for industry and consumers around its strong portfolio of live events and award shows.
- There are no leadership changes in PMC or MRC as a result of these projects, and both PMC and MRC will continue to operate independently.
- The financial terms of the deal were not disclosed.
PMC is a leading independent global media and information services company whose award-winning content attracts a passionate monthly audience of more than 310 million people. Since 2004, Penske Media has been a pioneer in digital media and an innovator for platforms, reaching viewers on all screens across its growing portfolio of iconic brands, which includes Deadline, Variety, Rolling Stone, WWD, SHE Media, Robb Report. Sportico, BGR, ARTnews, Art in America, Fairchild Media, Spy.com and many more. Daily PMC corporate journalists and content creators provide the most comprehensive news and information in their industries and areas of coverage, unmatched in ambition, depth and courage. Headquartered in New York and Los Angeles with additional offices in 14 countries around the world, PMC believes that companies must not only be profitable, but must also be forces for good. To learn more about PMC, 2% Corporation and our portfolio of brands, please visit www.PMC.com.
MRC is a file A diversified global entertainment company With sections including Film, TV, Live, Alternative, Realism and Data. Leading independent studios MRC Film and MRC Television source, finance, develop and produce critically acclaimed and award-winning films and shows as well as some of the most innovative artists in the industry. MRC Non-Fiction funds and produces featured documentaries and series for global audiences, and Dick Clark Products, part of MRC Live & Alternative, is the largest producer and owner of live TV entertainment broadcasts worldwide. MRC Data was recently created with the acquisition of Nielsen Music’s Data and Insights product portfolio and includes the industry-specific Billboard Charts chart. MRC recently teamed up with PMC to form PMRC with two distinct publishing and content joint ventures bringing together The Hollywood Reporter, Variety, Billboard, Rolling Stone, Vibe, and Music Business Worldwide. MRC owns a majority stake in A-Major Media and has minority investments in A24, Fulwell 73, Sugar23 and T-Street.