It looks like Penske was making bipartisan donations and then switched to making donations to the Democratic party. (Photo by David M. Benett/Dave Benett/Getty Images). Jay is the youngest son of Roger Penske. He has movie-star good looks, a former Victoria's Secret model wife, and a billionaire father. The Hill Reporter claimed Seth Hettena a freelance journalist encouraged people to donate to Trump in 2016. eventCategory: event.slot.getSlotElementId(), Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". I was done w that wet rag the millisecond they put a terrorist on the cover. hitType: 'event', CNET Lays Off 10% of Staff Just Weeks After Launching Articles Written by AI, Ozy Media Shuts Down Following Federal Fraud Indictment of Founder Carlos Watson, Ozy Media CEO Carlos Watson Indicted by Feds for Securities Fraud, All 18 EGOT Winners, From Audrey Hepburn to Jennifer Hudson (Photos), TheWrap Expands Newsroom, Hiring Kristen Lopez as Film Editor, Jose Alejandro Bastidas as TV Editor. A new piece again shines light on the $200 million Saudi Arabian investment into the magazines parent company Penske Media. He also owns Dragon Books Ltd., a Los Angeles-based used bookstore that sells rare and collectible books. Disney (Florida)The California-based Walt Disney Company is a large media conglomerate that owns the major Disney brands, ABC, FX, ESPN, National Geographic, Pixar, Hulu, and other subsidiaries. what does coyote waits mean; where to stay in azores, portugal; diamond floor stable brown. Other PMC staffers said they were instructed to clear their desks of any unsightly objects, like coffee mugs or boxes, anytime Penske came to town. In the reports' own words, the Penske Media Corporation, which employs hundreds of journalists at Variety, Deadline, The Robb Report, WWD and others as well as Rolling Stone, "has never publicly addressed the investment tie to the Saudi government, either to defend or explain it.". Trump added Hendricks to his economic advisory council in 2016 after Hillary Clinton criticized him for not having any women on it. The Hollywood Reporter also has been rocked with controversy after Editorial Director Matt Belloni left in April following repeated intense conflicts with MRC leadership over how aggressively to cover some Hollywood stars and institutions. ", Investigative filmmaker Cullen Hoback, whose documentaries include 'HBO mini-series Q: Into the Storm', said: "Penske Media owns Rolling Stone, Variety and Indiewire. Wells Fargo and its PAC are major donors to Republicans at the state and federal levels across the country, including in both North Carolina and Arizona. ga('ads.send', { As Penske has slowly aggregated various publications under PMC control, the company has focused on integrating back-office operations such as HR, accounting and technology for more efficiency and cost savings, while letting competing publications such as Deadline, IndieWire and Variety operate as mostly separate entities, even though they sit on different floors of the same building. That meant reporting news in real time, not waiting for some sleepy print deadline. Rolling Stone hits back amid calls to boycott magazine - New York Post This is a BETA experience. Co-Chairman Doug DeVoss brother, Dick, was the Republican nominee for Michigan Governor in 2006. Unlock premium content with a subscription. These conversations revealed an eccentric and dynamic entrepreneur determined to defy the odds in publishing and to prove himself outside of his family name. Both outlets evolved substantially under new ownership, growing digital chops, shifting their print editions to weekly. CEO Lynn Good is also a major donor to North Carolina Republicans. NYT He is also the chairman and CEO of Penske Media Corporation (PMC). The Hill Reporter published the story on Thursday, April 1, alleging the magazine is funded by the Saudi government, supports Donald Trump, and also claimed that it has donated millions to the Republican Party and GOP Super PACS. This documentary-style series follows investigative journalists as they uncover the truth. Honeywell (North Carolina & Arizona)Honeywell is an aerospace defense contractor and engineering company that is based in North Carolina but also has a significant presence in Arizona. Collectively, these ten states account for 179 electoral votes. "He was very keen to go around saying he owned Rolling Stone," one current Rolling Stone writer said. ", Another source, the former PMC director, said Penske was "oddly very compassionate for someone who grew up with so much privilege.". Why Does Jay Penske's Media Company Still Have a $200 Million Saudi Stake 9 Months After Khashoggi's Murder? Menards (Wisconsin)Billionaire John Menard, who is the founder and owner of this home improvement store chain with stores throughout the Midwest, is Wisconsins richest resident. 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. The event would mark a turning point in Penske's life and career. It brings a tendency toward groupthink and top-down decisions rather than individualized, critical thinking. ), Also Read: Hollywood Reporter, Variety Staff 'Freaked Out' Over Penske-MRC Media Merger (Exclusive), Kamala Harris and Sharon Waxman at Power Women Breakfast 2012. Lee, the former Univision chief content officer, predicted that Penske would "create the next iteration of what Cond Nast used to be. "He likes that these studio heads whose kids go to school with his kind of have to care about him.". Honeywell hosted Trump to tour the facilities at its Phoenix campus earlier this year, which has been repurposed to make N95 masks in light of the COVID-19 pandemic. Both Ronald and Todd were also major donors to Scott Walker. From the Editor: As Hollywood Consolidates, Independent Media - TheWrap "It was very elaborate," one Rolling Stone writer said. The police report said a small scuffle broke out when one of the women attempted to take a photo and Jay Penske "continued to urinate on her boots." Dicks wife is Betsy DeVos, Trumps Secretary of Education. window.googletag.cmd.push(function() { Twitter: @sharonwaxman, Sharon Waxman's take on life on the left coast, high culture, low culture and the business of entertainment and media, Did Disney Buy a Dud With Fox? But that Hollywood Reporter employee also said that in today's media landscape, it's all relative. In 2018, Penske faced criticism for accepting a $200 million investment from the Saudi Research and Marketing Group. Oscars, AMPAS and the Rise of a European Bloc, Letter From Sundance: A Crisis for Independent Film Lots of Content, Not Enough Distribution, Semafor to Redeem Sam Bankman-Fried Investment In Other Words, Return It (Exclusive), As We Say Good Riddance to Hollywoods Annus Horribilis, Caution Is the Watchword for 2023. ", "At that point I thought, 'He fundamentally doesn't understand media. PMC's purchase entailed a three-year runway for the Wenners to stay at the publication that expires this winter, according to several sources. document.querySelector("#ads").addEventListener('click',function(){ Search over 95 Million Voter Registration Records. a plan to fail painting reinhard jay penske political affiliation - theactiongrouphr.com And those who work alongside Penske say they are willing to overlook his foibles if it means they stay employed during a time when other media companies are struggling to survive the collapse of traditional ad-based revenue models. Three months later, they acquired the rest of the comapny's stake from BandLab Technologies, giving the company full ownership of the venerable magazine, including all event and licensing rights, and the parallel entity Rolling Stone International. CEO David Taylor was named to Trumps Great American Economic Revival advisory group for healthcare earlier this year and joined Trump in a coronavirus press briefing at the White House this past March. Nonetheless, Wenner has continued to influence editorial policy through a close relationship with Rolling Stone's editor-in-chief, Jason Fine. }); Fords PAC is a major donor to Republicans nationally and in Michigan. ), But here in Hollywood, you might think it doesnt really matter. }) Menear was named to Trumps Great American Economic Revival advisory group for retail earlier this year. ABC Supply (Wisconsin)Diane Hendricks, who is the co-founder, chair, and sole owner of this wholesale distributor of residential construction materials, is one of the wealthiest billionaires in Wisconsin. American democracy has always been fraught and our elections have never truly been fair or free. You may opt-out by. Notifications can be turned off anytime from browser settings. He is co-owner of Luczo Dragon Racing, a very successful IndyCar Series racing team. In addition to Rolling Stone, the younger Penskes company, Penske Media, also owns Hollywood publications Variety, Deadline, Billboard and The Hollywood Reporter. We will not be threatened by these mob-style tactics and will continue to keep you up-to-date," they added. Even actor and activist Rosanna Arquette got in on the call to boycott as it began to take off going into the weekend. For Penske, no detail is too small for a CEO. Both companies said the long-time rivals would continue to operate as independent publications . #BoycottRollingStone pic.twitter.com/eF42EjLf8K, 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 pieceWho owns the @RollingStone? Socha, a veteran journalist who has most recently served as WWD's Executive Editor, Europe, will succeed Edward Nardoza, WWD's longstanding Editor in Chief. NASCAR race cars are basically moving billboards. Now Jay Penske can lay claim to the second-largest . Jay Penske Has Turned PMC Into a Media Powerhouse Despite - Insider Why Doesnt Elon Musk Fund Twitter Until It Turns Around? Variety, now 115 years old and begun in New York back in the days of vaudeville, and The Hollywood Reporter, begun in Los Angeles to cover the movie studios in 1930, have been duking it out for primacy in Hollywood coverage for 90 years. When Bernie Marcus, the co-founder of Home Depot turned 90, Georgia business and civic leaders celebrated his birthday by raising $117 million in his honor. A former Wenner Media executive said that Jann Wenner fiercely rejected a proposal to launch Rolling Stone-branded hotels in Las Vegas and Miami in 2004, grumbling that Rolling Stone was "too valuable of a brand.". For all time, at the moment, 2021 year, Jay Penske earned $200 Million. As we fight for our collective freedom and liberation, elections are an important step in the broader process of making change. With music-industry bible Billboard and hip hop-focused Vibe next to consumer-facing Rolling Stone and Music Business Worldwide, that strategy likely will extend more substantially into the Grammys season as well. In September 2016, Wenner, the magazine magnate, was in the process of selling a 49% stake of the magazine to a company from Singapore called BandLab Technologies, which had no direct involvement in the editorial content of the magazine. } Because, as a video that I put together at the time from producers, writers, executives and others observed, entertainment matters.. In recent years, Penske has earned a reputation as an accessible and ebullient boss, mirroring his father's skill for getting to know even his lowest-level employees on a first-name basis. ", In 2009, Gawker wrote about Penske's "quest for elegance," quoting an associate as saying Penske "wants to be a modern day Si Newhouse; he wants to have a glamorous publishing company. Menard is a major donor to Wisconsin Republicans and a good friend to Trump. This past summer, the publication signed a deal with Bulldog, a European licensing company, offering services from branded puzzles and games to "location-based experiences." Variety and Deadline owner Penske Media Corp. further consolidated control over most of the key trade publications covering the film, TV and music industries, announcing content and publishing partnerships with MRC, which owns long-time archival The Hollywood Reporter. }); NFLX Hank Meijer came under fire for a campaign finance violation this year while trying to mask a donation to his sons campaign. Bubba Wallace is encouraging those to vote with a livery designed in partner with Door Dash. Ross is old friends with Trump and arranged a major fundraiser for him in the Hamptons in 2019. Other media companies like Vice and Endeavor had declined or even returned such funding in the wake of the murder of the journalist Jamal Khashoggi and the detention of other prominent critics by Saudi operatives. At the meeting, Penske told his staff he was committed to running the brands independently, according to one person who was there. 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. Honeywell CEO Darius Adamczyk also joined Trump in a coronavirus press briefing at the White House this past March. Raytheons PACs are major donors both nationally and at the state level in Arizona. After spending the night in jail on charges of breaking and entering with intent to commit a misdemeanor, Penske walked away with one year of pretrial probation and 50 hours of community service. In an age when media companies are flailing and laying off staffers by the dozens, Penske has managed to transform PMC into a publishing powerhouse. "He sees himself as a self-made man.". He assured the nervous editorial employees that the best was yet to come.. ga('ads.send', { NASCAR might not be a stick-and-ball sport, but that doesnt exempt them from getting involved in politics. }); Those conflicts became fodder for conflicts or perceived conflicts,whether the many Emmy ads in THR for MRC shows like Ozark, or the blow-up over coverage of Knives Out, the Lionsgate movie produced by MRC. Well, isnt that a coincidence. He also formerly owned a rare-books store, a notable interest for someone whose other publishing assets have been substantially digital. ", To this day, observers inside and outside the company say that Penske has a penchant for collecting what one former employee called "brands that help build his persona. Wells Fargos head of consumer banking, Mary Mack, was named to Business North Carolinas Power 100 in 2020. Many of those interviewed suggested that any concerns about Penske or his plans for their business were dampened by the simple promise of job security. 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. Bank of America (North Carolina)Charlotte-based Bank of America is a major power player in North Carolina politics, donating to both Republicans and Democrats alike. "Jason openly disparages Jay in the office," one former Rolling Stone editor said. He still has emails printed out for him.". Honeywells PAC is a major donor to both Republicans and Democrats. Subscribe to our newsletter for new stories, tips & events. 2016. Residents protested Penske's purchase, but the media tycoon never backed down. And sources say the acquisition spree is unlikely to stop anytime soon. The hashtag #BoycottRollingStone trended on Twitter Friday after a blog post highlighted the ties that Jay Penske, the owner of the magazines parent company Penske Media, has with the Saudi Arabian government. Penske Media Silent on $200 Million Saudi Investment After Jamal Khashoggi's Disappearance. Who owns Rolling Stone? Over the past 16 years, Penske, 41, the youngest son of the automobile tycoon Roger Penske, has quietly built a media empire, amassing more than 20 titles. (Photo by Paul Zimmerman/WireImage) Rolling Stone is punching back after a blog post claimed that the magazine "sold out" to. The real tension abounds in their different visions for the brand. Ohio-based Kroger owns supermarkets across the country including grocery chains like Dillons, Food 4 Less, Fred Meyer, Frys Food Stores, Gerbes, Harris Teeter, King Scoopers, Marianos, QFC, Ralphs, Roundys, Ruler Foods, and Smiths. The younger Wenner has been more enthusiastic about the push for digital content and diversification. When theyre conducted freely and fairly, elections are meant to give the people a voice in shaping the world we live in by offering us the opportunity to elect leaders who represent our values. jay penske political affiliation. John Sprouls, the CEO of Comcast-owned Universal Orlando Resort, is a member of Florida Governor Rick DeSantiss Re-Open Florida Task Force. hitType: 'event', These conflicts arent going away, since Penske has a major stake in a second joint venture with MRC to set up film and television projects. She already has two. Several current and former employees noted Penske's meticulous attention to detail in the new space. When Penske, who had a first-class ticket, discovered that Anderson had an undesirable seat in the middle of the back row of the plane, he insisted on trading places. He dated models and actresses like Devon Aoki and Lara Flynn Boyle and partied in high-society circles. The Wealthy Corporations Bankrolling the Politicians Who Could - Medium But the reformed playboy who's said to have a personal friendship with Saudi Crown Prince Mohammed bin Salman wasn't always destined to be a media hero. }); }); "Penske wants [Rolling Stone] to be digital-first," another former editor said. The most egregious of all voter suppression tactics being discussed is the idea that legislatures in swing states should select a Republican slate of electors to send to the electoral college, regardless of the popular vote. Why Did Rupert Murdoch Tell the Truth About Election Lies and What Happens to Fox News Now? Gilbert, who is a major political power broker in Michigan, leveraged his friendship with Trump to get a special designation from the administration for his real estate holdings in Downtown . Ive got your Sharon@penske email ready, he said to me, always charming and brazenly acquisitive. $12,940,514 to Republicans. jill wagner politics - goma.eco He has homes in both New York and Florida. On September 23, Penske Media Corporation, or PMC, which owns Rolling Stone, Variety, and Women's. Some have speculated that Penske will concentrate on international expansion. PMC bought the remaining 49% of the company in 2019. "I have significantly fewer concerns about attempts at editorial control with regard to Jay Penske than I did" before PMC leadership, the Hollywood Reporter employee said. You don't need glory to make money.". For now, under Gus Wenner's supervision, the brand is ramping up its multimedia content with audiobook, film, and TV partnerships, as well as licensing deals some things that his father scoffed at years ago.
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