Quantcast
VARIETY OWNER IN LEAD FOR ROLLING STONE

The owner of Variety and Deadline has emerged as the front-runner for Jann Wenner’s 51% share of Rolling Stone, the New York Post reported.

Jay Penske’s Penske Media has either edged out or interest has faded among the other contenders: Billboard/Hollywood Reporter owner Todd Boehly’s Eldridge Industries, Playboy’s Rizvi Traverse and a consortium led by James Dolan and Irving Azoff .

BandLab, which purchased a 49% stake in Rolling Stone 14 months ago for $40m, is also in the running.

Penske, who ventured into entertainment news in 2009 by purchasing Deadline Hollywood from founder Nikki Finke before snapping up a collection of entertainment blogs, acquired Variety in 2012 at the fire sale price of $25m. The former daily newspaper has been since transformed into a weekly and, earlier this year, after going decades with no full-time music reporting staff, bulked up the category with new hires and freelancers.

Penske has been on a buying of late, acquiring FashInvest, which covers fashion, tech and consumer goods, and Sourcing Journal, a trade for the manufacturing industries. Penske also owns Fairchild Media, publisher of WWD, FN and Beauty, Inc.

CHART STORY: BLACK PANTHER BOWS BIG
Will it Top itself next week? (2/16a)
FACES OF CHANGE
Hear them roar. (2/16a)
TOP 50 MONEYMAKERS:
TWINKLE, TWINKLE
These acts are stacking Benjamins like nobody's business. (2/16a)
LEADING THE LEAGUE IN POINTS
Oh right, it's NBA All-Star Weekend. (2/16a)
UMG REVENUES NEAR
$7B IN 2017
An ex-stream-ly strong earnings report (2/16a)
MONEY, MONEY, MONEY
Investment in the biz and the coming speed bumps.
A NEW STREAMING PLAYER?
Who's getting into the game?
MY DOCTOR SAID NO MORE PIZZA
But she's not here.
OBSTRUCTION OF JUSTICE
At least try to be less obvious about it.
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)