"He seems to actually value what we do and be familiar with our work," the Hollywood Reporter employee added. Another user tweeted: "I support #BoycottRollingStone bc Useful Idiots was a damn good show that shouldnt have been canceled. In 2019, his father, who made his fortune in truck leasing, car dealerships, and NASCAR and IndyCar racing, announced a succession plan that would pass the torch to Penske's older half-brothers, Roger Jr. and Greg. The magazine was founded in San Francisco in 1967 by Jann Wenner and Ralph Gleason. definitely was part of the group chats," the source said. eventAction: 'click_ads' }); [25] Penske was also added to Vanity Fair's New Establishment list,[26] and in 2010 the magazine named Penske one of the 10 best dressed men in the world in their "International Best-Dressed List" of that year. "I did not get the sense that I was sitting down with the absolute genius of media," a reporter who was friendly with Penske said. "He likes that these studio heads whose kids go to school with his kind of have to care about him.". Coverage of the incident was widespread, with reports in Auto Week, The Daily Mail, ESPN and Politico, among other publications. According to the article, Jack Rousch and Roger Penske have contributed directly to Trump's campaign of Trump super PACs in the 2020 election cycle. One of five siblings in a boisterous, competitive family, he distinguished himself in hockey and lacrosse at the Lawrenceville School, a boarding school in New Jersey, and Orchard Lake St. Marys, a Catholic prep school in Michigan. All of those publications, which cover things of special interest to Oscar and Emmy voters, are part of Penske Media Corporation. And sources say the acquisition spree is unlikely to stop anytime soon. ga('ads.send', { Jay grew up with great wealth, but in L.A. there are rooms that are not open to just any rich guy, said Matthew Belloni, who leads entertainment industry coverage for a new publication, Puck, and who was the top editor of The Hollywood Reporter before Mr. Penske took over. } When Tatiana Siegel, a longtime Hollywood Reporter journalist, accepted a job at The Ankler, a subscription newsletter started by the show business writer Richard Rushfield that has expanded under the former Hollywood Reporter top editor Janice Min, Mr. Penske put a stop to the move. If youre at a publication like Variety, for example, the number of things a studio has over you is hard to keep track of, Mr. Rushfield said. Jay Penske is Chairman/CEO/Founder at Penske Media Corp. See Jay Penske's compensation, career history, education, & memberships. The United States has two major national political parties, the Democratic Party and the Republican Party. Now, Penske has gone in for the rest. Some suggested that Penske had focused his attention on mentoring Wenner's 30-year-old son, Gus Wenner, Rolling Stone's president and chief operating officer. The addition of South by Southwest has given him another way to promote all things Penske. Jay is the youngest son of Roger Penske. gads_event = event; In a recent town-hall speech, Penske announced that PMC would move to a $25 minimum wage or $52,000 minimum salary for all employees across the company. Family vacations took place at Deer Valley in Utah, a ski resort that was partly owned by his father from 1987 to 2017. "Jay didn't have a lot of experience in life not getting what he wanted.". stuff floating on top of boiled water. . One came after his 2017 purchase of a Black church in the Venice neighborhood of Los Angeles for $6.3 million. He has movie-star good looks, a former Victoria's Secret model wife, and a billionaire father. PMC's namesake founder Jay Penske has remained one of the highest-profile figures in American media with ties to the Saudi regime. The mood at Rolling Stone was dire when Penske started circling the publication in 2017. 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 . Ms. Finke left Deadline after Mr. Penskes purchase of Variety amid reports that she preferred that he remain focused on Deadline, rather than attempt to revive a competitor. Jay Penske and his wife, Elaine Irwin, at a Ralph Lauren event in New York in 2018. After an enterprise marketing cellphones to children, a 24-year-old Penske relaunched the dot-com-era email portal Mail.com as Mail.com Media Corporation in 2004. In 2019, TheWrap demanded to know why Penske had remained silent on the investment stake, even afterU.S. intelligence reports confirmed that Saudi Crown Prince Mohammed bin Salman himself ordered American journalist Jamal Khashoggis gruesome murder. [3] In 1997, he set the school records for the most goals, assists, and total points in lacrosse in the school's history, after which they retired his number in the school gymnasium. Mr. Penske has not spoken publicly of that night and has kept his silence when faced with public criticism in other instances. "Things that have meaning. At a Black Lives Matter protest on June 2, Ben Affleck, whose children attend the same private school as Penske's, marched while toting a big poster that said "Save First Baptist Church of Venice.". }); In an industry that rewards attention seekers, he stands apart because of his penchant for privacy. }); His father's name is Roger Penske, and his mother is Kathy Penske. In 2017, Jay Penske, CEO of Penske Media, which owns, among other titles, Rolling Stone and Variety, and his wife, the former Victoria's Secret model Elaine Irwin, purchased the church and its . The visit took place during an eventful time for Mr. Penske. The Federalist Party was an early U.S. political party that fought for a strong federal government. He's childlike,'" the veteran media executive said. [18] The team was runner-up in the 2014-15 season with drivers Jrme d'Ambrosio (who ranked fourth), Oriol Servi, and Loc Duval. Parties The Best Parties of 2023 Grammy Week Jay Penske, chairman and ceo of Los Angeles-based PMC, told Fairchild staff via memo on Tuesday: "As an organization that recognizes the value of . Penske assists the charitable trust organization the Paley Center for Media, where he sits on the Board of Directors. hitType: 'event', His bid was accepted. "By switching focus from us & targeting these small businesses, they are trying to damage the relationships that power our operation and harm them and us financially in the process. Following Khashoggi's death, Penske attended a Formula E. Home; Location; FAQ; Contacts In 2018, Penske faced criticism for accepting a $200 million investment from the Saudi Research and Marketing Group. pg.acq.push(function() { hitType: 'event', In late September, PMC CEO Jay Penske, son of auto-racing kingpin Roger Penske, inked a $225 million deal to acquire 80 percent of The Hollywood Reporter's parent MRC a merger that would. if(document.querySelector("#google_image_div")){ In 2011, the name of the team changed to Dragon Racing, with Penske as the sole owner, and Paul Tracy was announced as the driver. ", Epidemiologist Eric Feigl-Ding said: "Let me get this straight arguably one of the most successful anti-Trump groups of 2020, @MeidasTouch, is now being attacked in a Rolling Stone hit piece Who owns the @RollingStone? Ms. Siegels contract included a noncompete clause, and Mr. Penske held her to it. Eventually, Penske evolved the company into Penske Media Corporation, making a full pivot to publishing in 2010 with the sale of Mail.com. A joint venture between Penske Media and MRC which owns Billboard, the Hollywood Reporter . In 2017, Penske bought an empty 100-year-old Black church in Los Angeles' Oakwood neighborhood for $6.3 million, where he plans to erect an 11,760-square-foot mansion for his family, The Real Deal reported. Two hundred people, including his parents, attended the opening in 2006, and Mr. Berg did a brief write-up for Vanity Fair. [23], Under Penske's leadership, PMC was awarded as one of North America's top 100 private companies by Herring Research. Rolling Stone - Page 6988 - Music, Film, TV and Political News Coverage. A o Roger Penske is a former race car driver who has not shared any details about his siblings. Early life and education. hitType: 'event', Thursdays Hill Reporter piece came about after, it said, a pro-Trump Rolling Stone writer recently contacted MeidasTouch, the PAC founded by the Meiselas Brothers, with a list of accusations he was about to write in an article specifically crafted to defame them. The Hill Reporter and anti-Trump MeidasTouch PAC have an established relationship; the PACs videos regularly appear on the Reporter, accompanied by promises from the editor to Reporter readers that the site will bring you their videos regularly, as they produce them.. Why Does Jay Penske's Media Company Still Have a $200 Million Saudi Stake 9 Months After Khashoggi's Murder? Due to issues with the Lotus engines[16] Dragon Racing switched to Chevrolet for the Indy 500. An Elmo-costumed Questlove deejayed, professional hair and makeup services were provided at the office day of, and a free day off was given to anyone who attended, sources said. Anderson said the incident was "emblematic" of Penske's character. Jay Penske's Billionaire Parents, Family & Education Jay was born in New York City and now lives in Los Angeles, however, his exact date of birth has not been revealed to the media . eventCategory: event.slot.getSlotElementId(), Nelson Anderson, the senior vice president of creative at PMC, recalled an instance when he and Penske were on the same work flight from Los Angeles to New York. A Twitter user added: "YOU TWITTER DRIPS. A new piece again shines light on the $200 million Saudi Arabian investment into the magazines parent company Penske Media. ga('ads.send', { In 2019, TheWrap demanded to know why Penske had remained silent on the investment stake, even after U.S. intelligence reports confirmed that Saudi Crown Prince Mohammed bin Salman himself. One thing I knew from the night I met him in the summer of 2002 was that he was a serious bibliophile.. Though Wenner was officially kept on as editorial director, multiple Rolling Stone sources told Business Insider that he was all but excommunicated and given an office on a separate floor in the new building. [29] Their daughter was born in 2013.[30]. }); Married to his supermodel wife Elaine Irwin, he was once arrested with his brother Mark in Nantucket for assaulting a woman and urinating on her, according to a report by The Atlantic. With Mr. Penskes entree into the media business came media attention. "Jay leads with his heart," said Michael Davis, PMC's former chief of video, adding that Penske has "great intentions" in the way "he takes care of his employees, business, and community. "He's a neat freak. [7], Penske co-founded Firefly Mobile, Inc., a wireless company that developed the Firefly mobile phone for children, and other youth targeted mobile products. PMC has gone sector by sector, from Hollywood to fashion to art, scooping up industry and luxury trade publications to build a portfolio that includes titles like WWD, Rolling Stone, Deadline, ArtNews, IndieWire, Variety, and Robb Report. Up until a decade ago, Jay Penske was one of many scions looking to move upward in Los Angeles. Wharton School of the University of Pennsylvania, "He has movie-star good looks, a former Victoria's Secret model wife, and a billionaire father. Jay Penske and Ms. Irwin were among the guests in the Oval Office who looked on as former President Donald J. Trump placed the medal around the patriarch's neck. In 2012 the team planned to run Lotus engines with a two-car team composed of Sbastien Bourdais and Katherine Legge. He named it Dragon Books, after a collection of tales he had loved as a child, Dragon, Dragon, by John Gardner. The veteran media executive called the purchase "a validation of his self-worth." ", The source close to the company said this was "entirely false.". While he belongs to the Caucasian ethnicity. "He would have temper tantrums," one former executive said. PMC bought the remaining 49% of the company in 2019. Hes super-close to his dad, Mr. Loeb said. For last year's annual holiday bash, Penske, an apparent Halloween fanatic, spared no expense. #BoycottRollingStone https://t.co/uGDa6xaiD2. ga('ads.send', { eventCategory: event.slot.getSlotElementId(), (Roger Penske declined to comment for this article. eventAction: 'render' [6] The Firefly phone won the 2006 CES Innovation Award, presented by the Consumer Electronics Association (CEA) and the 2006 International Consumer Electronics Show (CES). Janice Min and Jay Penske are battling over Hollywood newsletter The Ankler's first key hire, The Hollywood Reporter's Executive Film Editor Tatiana Siegel, which was announced in a splashy New. [17] Dragon Racing's drivers for the 2013 season were Sebastin Saavedra and Sbastien Bourdais. For the media executive Jay Penske, awards season is money season. While a serial prep-school expellee, he became a serious reader of 19th-century novels, he wrote of Mr. Penske. Penske Automotive Group (Michigan & Pennsylvania) Founder and CEO Roger Penske is a major donor to Michigan Republicans and was awarded with a Presidential Medal of Freedom from Trump in 2019 . This spring, readers will be able to purchase Rolling Stone-branded beer. In addition to Rolling Stone, the younger Penskes company, Penske Media, also owns Hollywood publications Variety, Deadline, Billboard and The Hollywood Reporter. By Andrew Fedorov January 25, 2023 Illustration by Steven Dressler ", Investigative filmmaker Cullen Hoback, whose documentaries include 'HBO mini-series Q: Into the Storm', said: "Penske Media owns Rolling Stone, Variety and Indiewire. 7 jersey, which the school retired. }); "It gave him clout." reporters on a platform technologically tailored to meet the needs of the modern reader. [9], Penske is the Chairman and CEO of Penske Media Corporation (PMC),[10] a digital media and publishing company that owns and operates a number of media brands, data services, and live events, including Rolling Stone, Variety, Billboard, and South by Southwest festival (SXSW). But Fine, who heads up an old guard of print loyalists, is far less friendly with Penske, according to several current and former staffers. A 2015 cover of Variety, the trade publication acquired by Penske Media in 2012. Rolling Stone readers and Twitter users seemed much less concerned on Friday about the relationships of PACS or articles specifically crafted to defame them than they did about the Trump and Saudi ties of Penske. Some have speculated that Penske will concentrate on international expansion. Guess who owns Penske? "There was a rumor," said another former Women's Wear Daily employee, "that he would come around at night and Post-it items he didn't like." Many of PMC's journalists some of whom had been outspoken critics of the Saudi government have found the whole affair, from the initial investment to the secretive yacht party, unsettling. Here's how Jay Penske transformed from playboy to pragmatic media mogul", "1997 Boys' High School All-American Lacrosse Team", "St. Mary's Preparatory honors trio for athletic accomplishments", "Jay Penske hopes to follow in footsteps of famous father", "Firefly Phone Wins 2006 'Best of Innovations' Award From Consumer Electronics Association", "Another Penske Wants to Make Name at Indy", "You Don't Know Much About Jay Penske. He also bought promising URLs, including Mail.com, which he built into an email portal business and eventually sold at a profit. Jay Penske, the son of the billionaire automobile tycoon Roger Penske, has turned his company, PMC, into the country's second-most-visited digital publisher. "[The question of] 'are we being paid with blood money?' 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