Jay Penske — Penske Media Corp.

Chief Executive and Chairman

THE LATEST: In September, Penske Media Corp. and MRC formed joint venture P-MRC, combining Penske’s Hollywood trade brands, such as Variety and Deadline, with MRC titles including the Hollywood Reporter and Billboard. The companies also created a joint venture to develop film and television content. In April, P-MRC reached agreement to acquire 50% of the South by Southwest festival in Austin, Texas.
BACKGROUND: Penske, who founded Penske Media in 2003, has built a print and digital empire that includes trade publications as well as consumer brands like Rolling Stone, Vibe and the Robb Report. The deal with MRC adds more titles and increases the company’s video capabilities. Penske previously built and sold Mail.com and was co-founder of Firefly Mobile Inc., which produced mobile phone for kids. He has sat on the boards of the Wharton Entrepreneurial School, the American Film Institute and the Paley Center for Media. The son of auto-racing legend Roger Penske, he also owns and operates the Dragon Racing team in the Formula-E series.
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