Penske Media, owned by trucking scion Jay Penske, is now the biggest shareholder of Vox Media, a company with titles including New York Magazine, the Cut, Vulture and the Verge. While Penske Media did not disclose the terms of the deal, the stake is for 20% of the company for around $100 million, the New York Times first reported. “This …
PMC Chairman and CEO Jay Penske at the “Variety Power of Women: New York” event in 2014. PMC, based in L.A. and New York, also owns Rolling Stone, Billboard and Women’s Wear Daily, as well as the entertainment trade publications Variety and the Hollywood Reporter, among other major print and digital outlets — more than 20 media brands in all. …
