IS THE BIBLE LOOKING FOR A BUYER? (UPDATE)

Amid reports of Penske Media in talks to acquire The Hollywood Reporter, rumors are swirling that Billboard and dick clark productions could be up for grabs as well.

On Wednesday, THR/Billboard owner Valence Media was renamed MRC and divided into six divisions, one of which— MRC Media & Info—houses The Hollywood Reporter, Billboard and Vibe plus the Billboard Charts and most of its events. Billboard Music Awards are in the MRC Live & Alternative with dick clark productions.

LA Mag's report suggested Valence could be open to including DCP and Billboard, along with THR, in any acquisitions. Following a volatile year, which has included the abrupt exit of THR Editorial Director Matthew Belloni and massive layoffs across both trade publications, Valence's media entities are hemorrhaging cash and would be an obvious asset to offload.

Is the MRC set-up a packing of properties for sales so that no buyer can cherry pick the money-makers? Penske is no fool—if he's buying it will be on his terms, whether he's living in Venice or not.