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.

DAILY BEAST: AMATO PUSHED OUT OVER HARASSMENT CHARGES
Not a good look. (7/16a)
I.B. BAD: BROADWAY TO MAD AVE.
Building a new Arista. (7/17a)
THIS BRAND IS MY BRAND
Nashville's new endorsements (7/17a)
QUEEN TO GRAMMYS: WE WON’T ROCK YOU
But other honorees will. (7/16a)
MIRANDIZED
Includes a Holly Gleason sighting. (7/16a)
WHO ARE THE RAINMAKERS?
We promise this special issue won't be dry.
THE A&R EXECS
That stands for Artists and Repertoire, in case you were wondering.
PIZZA AND MARKETSHARE
I'm winning this one.
THE BOILER ROOM
It's the new tape room.
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)