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Penske Media Gets in on The Robb Report

Penske Media Corporation (PMC) the company behind brands like Variety, Women's Wear Daily, Fairchild, Hollywood Life and others, is partnering with Rockbridge Growth Equity, owner of luxury publication The Robb Report. The deal calls for PMC to take a sizeable stake in the publication and lead the charge on expanding the brand across digital platforms and beyond. Robb Report's New York and Los Angeles offices will shutter and staffers will move into PMC's offices in those cities. However Robb Report is expected to remain an independent brand. PMC has been in expansion mode for some time now beginning with the acquisition of well known brands like Variety, Fairchild and Women's Wear Daily. It was rumored a couple years back that magazine magnate Jason Binn was interested in taking over The Robb Report, but that was really just a rumor or a deal never panned out.
“The partnership with PMC is a strong strategic fit and joining forces will accelerate and drive Robb Report’s future growth,” said Brian Hermelin, managing partner for Rockbridge Growth Equity. “The joint venture and PMC’s investment allows us to focus our combined energies on expanding Robb Report’s digital capabilities as well as continuing to improve its print distribution channels and event activation to deliver optimal consumer and advertiser experiences.”
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Penske Media Gets in on The Robb Report Reviewed by Editor on 6:41 PM Rating: 5
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