Penske Media Corporation

Penske Media Corporation (PMC; ) is an American digital media, publishing, and information services company based in Los Angeles and New York City. It publishes more than 20 digital and print brands, including Variety, Rolling Stone, Women's Wear Daily, Deadline Hollywood, Billboard, The Hollywood Reporter, Boy Genius Report, Robb Report, Artforum, ARTNews, and others. PMC's Chairman and CEO since founding is Jay Penske. History Founding and early years of Penske Media Penske Media Corporation was founded by Jay Penske in 2003. It began as an affinity marketing and internet services company called Velocity Services, Inc. The company acquired the Mail.com domain and was renamed to the Mail.com Media Corporation (MMC). By 2008, the company owned digital entertainment properties like OnCars.com, Hollywood Life, Movieline, and MailTimes in addition to operating the Mail.com portal and email service. In mid-2008, the company received a $35 million growth equity round of financing from a leading private equity fund.