Los Angeles September 23, 2020 – Leading independent media and entertainment companies Pensk Media Corporation Corporation (PMC) and MRC today hold significant ownership of both companies, announcing a deal to create two joint ventures in publishing and content. The transition period to the end of 2020 was effectively announced today by PMC CEO Jay Pencek and MRC CEO Asif Sachu and Modi Vikzik.
The first joint venture establishes PMRC which includes some of the most iconic brands of entertainment and music. This reputable brand includes PMC Rolling Stone, Variety And M.R.C. Music business worldwide interests with tHe was a Hollywood reporter, Billboard And Vibe. Together, the brand provides opportunities for customers to reach a standardized audience through editorial, advertising and other marketing solutions. PMRC’s day-to-day operations will be led by PMC, the digital media pioneer and platform innovator whose deadline in the ever-growing constellation of iconic brands, WWD, She Media, Sportico and Rob Report, Among many others.
“These are all brands that I have long admired. Billboard, The Hollywood Reporter, And VIBE Pencek said he has created some of the best content in his respective industries and has made a major contribution to the high quality of journalism covering entertainment and music today. “We are very fortunate to have this valuable partnership with an exceptional MRC team and the opportunity to continue the legacy of this tremendous brand for many decades to come.”
“It simply came to our notice then Diversity, A falling stone or a circular stone And the leadership of the music business worldwide and, most importantly, the PMC who hope to get to know us better and partner in both of these businesses.
The second joint venture involves a new content partnership that will enable manufacturing infrastructure strengths and MRC expertise on PMRC intellectual property (IP). Significantly, the joint venture includes two notable global music brands at a time where interest in music-based content has erupted. MRC will be tasked with developing mass brand IPs in all its content divisions, including television, film, live and alternative and non-fiction. MRC has a proven track record with award winning and high profile titles reaching millions of unique viewers each year: Emmy-nominated Ozark, The Great, The Outsider, Golden Globe Awards, Fire Fraud; Best-in-class live event music series, incl Billboard Music Awards And American Music Awards, And Academy Award and Golden Globe-nominated Knives out And other iconic films, e.g. Ted And Baby driver. The MRC will manage the long-form content connection.
Transaction Highlights:
- PMRC has become home to publishing operations and well-known brands: Diversity, The Hollywood Reporter, Rolling Stone, Billboard, Vibe and the music business worldwide.
- The content praises the joint venture, MRC’s award-winning, expertise in producing high-profile titles in film, television, non-fiction and live events.
- Going forward the Hollywood Reporter, Billboard and Vibe Pensk will take advantage of the media infrastructure and be placed on the PMC tech and delivery platform.
- MRC will collaborate with PMRC brands to create new opportunities for customers around the industry and its powerful portfolio of live events and awards shows.
- There has been no leadership change in the PMC or MRC as a result of these ventures, and both the PMC and the MRC will continue to operate independently.
- The financial terms of the deal were not disclosed.
About PMC
PMC is a leading independent global media and information services company whose award-winning content attracts a passionate monthly audience of over 310 million people. Since 2004, Pensk Media has been at the forefront of digital media and a platform innovator, reaching viewers across all screens of its iconic brand’s ever-growing constellation, including Deadline, Variety, Rolling Stone, WWD, SHE Media, Rob Report, Sportico, BGR, ARTNews, Art in America, Fairchild Media and Spy.com, among many others. PMC’s journalists and content creators deliver the most comprehensive news and information every day, obscured by ambition, depth and boldness in their areas of business and coverage. Headquartered in New York and Los Angeles, with additional offices in 14 countries around the world with fees, the PMC believes that companies should not only be profitable, but push for good. To learn more about PMC, our 2% Foundation and our portfolio of brands, please visit www.PMC.com.
About MRC
MRC is a diverse global entertainment company with segments including film, television, live and alternative, non-fiction and data. Leading independent studio MRC Film and MRC Television Resources, develops and develops critically-acclaimed and award-winning films and shows with industry-leading creative artists. MRC produces documentaries and documentaries for non-fiction financial and global audiences, and part of MRC Live and Alternative, Dick Clark Productions, is the largest television live-event entertainment programming broadcaster in the world. MRC Data was recently established with the acquisition of Nielsen Music’s Data and Insights product suite and includes crucial industry billboard charts. The M.R.C.A. Together they have formed PMRC with two separate joint ventures in publishing and content that connect the Hollywood Reporter, Variety, Billboard, Rolling Stone, Vibe and the music business worldwide. MRC has a majority stake in A-Major Media and has minority investments in A24, Fulwell 73, Sugar 23 and T-Street.
