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IS PENSKE KICKING
TIRES OF THR/BB?

Is Variety owner Jay Penske kicking the tires of The Hollywood Reporter and Billboard? Insiders say the Penske Media Corporation owner/CEO, whose other entertainment-media holdings include Deadline.com, MoveLine.com and HollywoodLife.com, may have his eye on the remaining pieces of Todd Boehly’s Eldridge Industries media portfolio.

Should Penske—who famously sent Deadline founder Nikki Finke packing—go through with such an acquisition, it’s believed substantial personnel changes at THR and the Bible would ensue.

Meanwhile, it’s believed that the closing of the deal between Chinese behemoth Dalian Wanda and Boehly property Dick Clark Productions, rumored to be valued at $1 billion, is said to be having some major issues. As one top gunslinger associated with the deal said, “It’s not about the money…it’s about the money.”

Boehly is reportedly looking for $200m for THR/Billboard, but the company has been losing in excess of $20m per year since he bought it for $70m in 2009. 

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