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Jay Penske

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ENTERTAINMENT
October 9, 2012 | By Ben Fritz
Jay Penske has emerged as one of the most powerful figures in the world of entertainment news for industry professionals. A virtual unknown in Hollywood just over three years ago, the 33-year-old son of auto magnate Roger Penske acquired editor Nikki Finke's news site Deadline.com and today acquired one of the industry's oldest brands and best-known trade publications, Variety, for about $25 million. Penske's 9-year-old company, Penske Media Corp., started off as the owner of website Mail.com.
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ENTERTAINMENT
November 19, 2013 | By Joe Flint
The battle between entertainment journalist Nikki Finke and Jay Penske, the owner of Deadline Hollywood, the website she founded and has since left, has been turned up a notch. Late Monday, Penske Media Corp., whose holdings include Deadline Hollywood and Daily Variety, said it was initiating arbitration with Finke, which means a third party will resolve their differences. Finke departed Deadline Hollywood earlier this month after clashing with Penske over multiple issues, and said she was going to start her own site that would cover Hollywood news.
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ENTERTAINMENT
November 19, 2013 | By Joe Flint
The battle between entertainment journalist Nikki Finke and Jay Penske, the owner of Deadline Hollywood, the website she founded and has since left, has been turned up a notch. Late Monday, Penske Media Corp., whose holdings include Deadline Hollywood and Daily Variety, said it was initiating arbitration with Finke, which means a third party will resolve their differences. Finke departed Deadline Hollywood earlier this month after clashing with Penske over multiple issues, and said she was going to start her own site that would cover Hollywood news.
ENTERTAINMENT
November 6, 2013 | By Joe Flint
After the coffee. Before the Time Warner earnings call. The Skinny: Caught an episode of "The Mindy Project" last night and was pleasantly surprised. The show, in my view, has been inconsistent but Tuesday it showed some of its early promise. I know. Who cares what I think? Wednesday's roundup includes the latest (and I hope last) chapter on Nikki Finke vs. Jay Penske. Also, the FCC fines TBS for a Conan O'Brien promotion. Daily Dose: We are at that point in the NFL season where NBC can start switching out of games it is scheduled to carry because they are no longer as appealing as when the schedule first came out. The network has already swapped a Packers-Giants game in favor of Chiefs vs. Broncos on Nov. 17. Don't be surprised if they also try to bail on a Falcons-Packers game on Dec. 8. PHOTOS: Behind the scenes of movies and TV Finke breaks free.
ENTERTAINMENT
September 18, 2013 | By Joe Flint
How many Emmy Awards "House of Cards" and "Breaking Bad" will take home Sunday isn't the only thing Hollywood is wondering about. There is also curiosity about whether one of the sharpest-tongued critics of awards shows and industry glitz will be on hand to offer her snarky take of the proceedings. Next to breaking big news, there is nothing Deadline Hollywood founder and editor in chief Nikki Finke likes to do more than pick apart the Oscars and the Emmys. But a dispute with Jay Penske, whose Penske Media Corp.
ENTERTAINMENT
November 15, 2012 | By Ben Fritz
The new owner of Variety is laying off nearly 20 employees at the Hollywood trade paper while preparing to cut back on the number of times it prints each week. The layoffs represent about 12% of Variety's 165-person staff and come from departments including circulation, administration, conference planning, and the industry directories "LA411" and "NY411. " No reporters or editors are losing their jobs. "For the past six months we have diligently reviewed every aspect of the Variety business [a]
ENTERTAINMENT
October 11, 2012 | By Ben Fritz
New Variety owner Jay Penske won kudos from his new employees at Variety by promising to take down the paper's online paywall, continue the industry trade's presence in print and invest in its newsroom. In his first address to Variety's approximately 120 employees late Wednesday afternoon, the head of Penske Media Corp., which acquired the venerable Hollywood trade paper on Tuesday for about $25 million, made a largely positive impression on the staff, according to people who attended but requested anonymity because the meeting was private.
ENTERTAINMENT
November 5, 2013 | By Joe Flint
Nikki Finke has severed ties with Deadline Hollywood, the website that she built into a must-read for the entertainment industry. Finke is leaving after repeated clashes with Jay Penske, who purchased the site in 2009 and also owns Variety. "I'm so happy," Finke said in a brief interview. ON LOCATION: Where the cameras roll Finke said she plans to start a new website that will compete with Deadline and Variety in chronicling the ins and outs of Hollywood. Known for her biting commentary and snarky observations about the industry and the executives who lead it, Finke has been aiming most of her vitriol lately at Penske in an attempt to get out of her contract.
ENTERTAINMENT
September 24, 2012 | By Ben Fritz
Hollywood's 107-year-old industry trade publication Variety and 6-year-old online competitor Deadline, headed by editor Nikki Finke, may soon be housed under the same corporate roof. Penske Media Corp., the owner of Deadline and six other online properties, is now the leading bidder for Variety, partnered with private equity fund Shamrock Capital Advisors, according to two knowledgeable people not authorized to discuss the matter publicly. The company, led by Jay Penske, the 33-year-old son of automobile magnate Roger Penske, could close a deal to purchase the paper in the next three weeks for around $30 million, one of the people added.
ENTERTAINMENT
June 2, 2013 | By Joe Flint and Dawn Chmielewski
Deadline Hollywood founder Nikki Finke is famous for breaking news on the entertainment industry. But on Sunday night the hot Hollywood gossip was being reported not by her but about  her. Speculation about Finke's future at Deadline Hollywood heated up after rival online publication The Wrap reported that Finke was dismissed from her position after clashing with Jay Penske, the chief executive of Penske Media Corp., or PMC, which owns...
ENTERTAINMENT
November 5, 2013 | By Joe Flint
Nikki Finke has severed ties with Deadline Hollywood, the website that she built into a must-read for the entertainment industry. Finke is leaving after repeated clashes with Jay Penske, who purchased the site in 2009 and also owns Variety. "I'm so happy," Finke said in a brief interview. ON LOCATION: Where the cameras roll Finke said she plans to start a new website that will compete with Deadline and Variety in chronicling the ins and outs of Hollywood. Known for her biting commentary and snarky observations about the industry and the executives who lead it, Finke has been aiming most of her vitriol lately at Penske in an attempt to get out of her contract.
ENTERTAINMENT
September 18, 2013 | By Joe Flint
How many Emmy Awards "House of Cards" and "Breaking Bad" will take home Sunday isn't the only thing Hollywood is wondering about. There is also curiosity about whether one of the sharpest-tongued critics of awards shows and industry glitz will be on hand to offer her snarky take of the proceedings. Next to breaking big news, there is nothing Deadline Hollywood founder and editor in chief Nikki Finke likes to do more than pick apart the Oscars and the Emmys. But a dispute with Jay Penske, whose Penske Media Corp.
ENTERTAINMENT
June 2, 2013 | By Joe Flint and Dawn Chmielewski
Deadline Hollywood founder Nikki Finke is famous for breaking news on the entertainment industry. But on Sunday night the hot Hollywood gossip was being reported not by her but about  her. Speculation about Finke's future at Deadline Hollywood heated up after rival online publication The Wrap reported that Finke was dismissed from her position after clashing with Jay Penske, the chief executive of Penske Media Corp., or PMC, which owns...
BUSINESS
March 19, 2013 | By Joe Flint, Los Angeles Times
Leslie Moonves has had the same morning routine for decades. "The first thing I do after getting out of the shower is pick up Daily Variety and have a cup of coffee," the CBS Corp. chief executive said. "It's a 30-year habit. " That habit is ending for Moonves and lots of other Hollywood power players, movie and television stars, producers and publicists and thousands of wannabes: Daily Variety is ceasing as a print publication after almost 80 years. Tuesday's edition is its last.
ENTERTAINMENT
November 15, 2012 | By Ben Fritz
The new owner of Variety is laying off nearly 20 employees at the Hollywood trade paper while preparing to cut back on the number of times it prints each week. The layoffs represent about 12% of Variety's 165-person staff and come from departments including circulation, administration, conference planning, and the industry directories "LA411" and "NY411. " No reporters or editors are losing their jobs. "For the past six months we have diligently reviewed every aspect of the Variety business [a]
ENTERTAINMENT
October 11, 2012 | By Ben Fritz
New Variety owner Jay Penske won kudos from his new employees at Variety by promising to take down the paper's online paywall, continue the industry trade's presence in print and invest in its newsroom. In his first address to Variety's approximately 120 employees late Wednesday afternoon, the head of Penske Media Corp., which acquired the venerable Hollywood trade paper on Tuesday for about $25 million, made a largely positive impression on the staff, according to people who attended but requested anonymity because the meeting was private.
ENTERTAINMENT
November 6, 2013 | By Joe Flint
After the coffee. Before the Time Warner earnings call. The Skinny: Caught an episode of "The Mindy Project" last night and was pleasantly surprised. The show, in my view, has been inconsistent but Tuesday it showed some of its early promise. I know. Who cares what I think? Wednesday's roundup includes the latest (and I hope last) chapter on Nikki Finke vs. Jay Penske. Also, the FCC fines TBS for a Conan O'Brien promotion. Daily Dose: We are at that point in the NFL season where NBC can start switching out of games it is scheduled to carry because they are no longer as appealing as when the schedule first came out. The network has already swapped a Packers-Giants game in favor of Chiefs vs. Broncos on Nov. 17. Don't be surprised if they also try to bail on a Falcons-Packers game on Dec. 8. PHOTOS: Behind the scenes of movies and TV Finke breaks free.
NEWS
March 24, 2012 | By Ben Fritz, Los Angeles Times
Variety, Hollywood's oldest entertainment industry trade publication, has been put up for sale. Dutch and British conglomerate Reed Elsevier, which acquired the weekly publication and its Daily Variety newspaper 25 years ago, announced Friday that it was seeking a buyer for the 107-year-old brand, which has 61,000 combined weekly, daily and online subscribers, according to circulation figures reported by business publication auditor BPA Worldwide....
ENTERTAINMENT
October 9, 2012 | By Ben Fritz
Jay Penske has emerged as one of the most powerful figures in the world of entertainment news for industry professionals. A virtual unknown in Hollywood just over three years ago, the 33-year-old son of auto magnate Roger Penske acquired editor Nikki Finke's news site Deadline.com and today acquired one of the industry's oldest brands and best-known trade publications, Variety, for about $25 million. Penske's 9-year-old company, Penske Media Corp., started off as the owner of website Mail.com.
ENTERTAINMENT
September 24, 2012 | By Ben Fritz
Hollywood's 107-year-old industry trade publication Variety and 6-year-old online competitor Deadline, headed by editor Nikki Finke, may soon be housed under the same corporate roof. Penske Media Corp., the owner of Deadline and six other online properties, is now the leading bidder for Variety, partnered with private equity fund Shamrock Capital Advisors, according to two knowledgeable people not authorized to discuss the matter publicly. The company, led by Jay Penske, the 33-year-old son of automobile magnate Roger Penske, could close a deal to purchase the paper in the next three weeks for around $30 million, one of the people added.
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