On September 23, Penske Media Corporation, or PMC, which owns Rolling Stone, Variety, and Women's Wear Daily, announced it would take control of The Hollywood Reporter, Billboard, and Vibe as part of a joint venture with the entertainment company MRC. When Trump visited North Carolina in 2018 for photo-ops with Hurricane Florence victims, Good participated in an event with him. [1] "He struck me as this playboy. Here are a few facts about the parties involved and how it led to furious calls to boycott the magazine. "Jason openly disparages Jay in the office," one former Rolling Stone editor said. While he was CEO of Ford, Mark Field served on Trumps American Manufacturing Council. Another writer explained: "He has this vibe of the 'benevolent billionaire' guy, [but] there are people who are skeptical. But except for his own Formula E team, Dragon Racing, Penske's tastes never did have much in common with his father's. PMC bought the remaining 49% of the company in 2019. Rousch has switched from no affiliation to donating to the Democrats. Trump held a campaign event this fall at the Duke Energy hangar near the Charlotte Airport. However, no such tweet activity or other proof to substatiate these claims have been added in the article. Also Read: Inside Jay Penske's $100 Million Deal to Merge Variety, The Hollywood Reporter and Billboard (Exclusive), True, it is just the latest in a wave of media consolidation rollbacks and roll-ups and shutdowns that dont augur entirely well for diversity of speech. As we fight for our collective freedom and liberation, elections are an important step in the broader process of making change. To this day, "he fancies himself a man of letters," the veteran media executive said. In the piece, Dublin reported the music magazine that was once "a shining beacon of rebellion" lost its edge after it was sold to Jay Penske, the son of reported Trump-backing multimillionaire. The blog post showed a photo of Jay Penske in the Oval Office when Trump bestowed the medal of freedom on his father Roger. In 2018, a Rolling Stone-themed "Rock Room" on Holland America Line cruise ships was launched. And to you, our readers. He co-founded Firefly Mobile Inc which won the 2006 CES Innovation Award. Why Does Jay Penske's Media Company Still Have a $200 Million Saudi Stake 9 Months After Khashoggi's Murder? Back in 2017, The New York Times reported that Penske Media Corporation had acquired a controlling stake in Wenner Media, the publisher of the famed Rolling Stone magazine. And Ive met Jay Penske in person exactly one time, shortly after he bought Deadline in 2009, when a mutual friend arranged for us to meet for coffee in a small caf in Marina del Rey. 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. 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. While Disney gives to both Republicans and Democrats alike, its subsidiaries are major donors to Republican-leaning PACs in Florida in particular. ), Also Read: Hollywood Reporter, Variety Staff 'Freaked Out' Over Penske-MRC Media Merger (Exclusive), Kamala Harris and Sharon Waxman at Power Women Breakfast 2012. Founder and Chairman Dan Gilbert watched the returns of the 2018 midterm elections in the White House with Trump himself, who referred to Gilbert as a great friend. 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 Detroit, which allowed the billionaire to get a massive tax break. CEO Bob Iger was a member of Trumps Strategic Policy Council. Touring the world with friends one mile and pub at a time; which yttd character are you uquiz. An employee at The Hollywood Reporter said that Penske "really did his homework" before the PMRC deal went through. Ross is old friends with Trump and arranged a major fundraiser for him in the Hamptons in 2019. But his fondness for the publication led to real results. There was a strict no-photo policy. jay penske political affiliation. We are calling on these wealthy elites and executives to publicly pledge to demand back all the money they have given to any elected official that refuses to honor the results of a full, fair, and accurate count of all mail-in and in-person ballots in their state or takes any action to prevent all the ballots from being counted. Bubba Wallace is encouraging those to vote with a livery designed in partner with Door Dash. Dukes PAC is a major donor to Republicans, both at the federal level and in North Carolina. The tweet includes a screenshot from OpenSecrets.org depicting whos donating money, from what team, when it happened to what party, and the amount given. #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? Now Jay Penske can lay claim to the second-largest audience in digital publishing in the US. 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. Northwestern Mutual (Wisconsin)Northwestern Mutual is a Fortune 500 financial services company based in Milwaukee. All 3 outlets attempted to dissuade people from watching #QIntoTheStorm, claiming it doesnt matter who Q is. Duke also praised Trumps decision last year to decline to set uranium production quotas. Is It Quiet on the Western Front? Duke Energy (North Carolina)Charlotte-based Duke Energy is an electric power company. But that's fine. But others insist that his knowledge and appreciation of new brands he brings on is too extensive to be superficial. Companies have been sharing their message on the sides of the vehicles for years. There was kitesurfing on turquoise waters and test-driving $300,000 McLarens in the desert. Producers who compete with MRCs Asif Satchu and Modi Wiczyk cannot be pleased that their partners are now Variety and The Hollywood Reporter. "I think Jay and the senior PMC staff sincerely believe that they are part of a larger mission to save publishing," one former PMC director said. ", Added Lee, "I think he's only halfway there.". 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? Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". She already has two. Still, he hasn't totally lost his ability to stir up gossip. One employee at The Hollywood Reporter said some staffers felt ill at ease following the PMRC announcement. 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. Jay Penske is entitled to the astounding fortune of his billionaire father Roger Peneske and claims a magnitude of wealth from his parents. This is including $10 million to Republican causes and $1.9 million to Democratic causes so far in the 2020 election cycle. eventCategory: event.slot.getSlotElementId(), And in 2013, he settled down and had a daughter with Elaine Irwin, a former supermodel and ex-wife of John Mellencamp. "He's a neat freak. The state legislatures must select their electors based on a full, fair, and accurate count of all mail-in and in-person ballots. Sharon Waxman, is the founder, CEO and Editor in Chief of TheWrap. The media and publishing entrepreneur has a net worth of $200 million dollars, according to Celebrity Net Worth. Were a month from the election, and it is really hard to think about anything but that ballot. Collectively, these ten states account for 179 electoral votes. Waxman had written a piece about a "staff revolt" against Variety's editor-in-chief, Claudia Eller. That meant reporting news in real time, not waiting for some sleepy print deadline. Some have speculated that Penske will concentrate on international expansion. "Penske wants [Rolling Stone] to be digital-first," another former editor said. https://t.co/krPEFFAfOC, YOU TWITTER DRIPS. }); Kroger (Ohio)Krogers PAC and CEO Rodney McMullen have both been major donors to Ohio Republicans. . The magazine was founded in San Francisco in 1967 by Jann Wenner and Ralph Gleason. Ed Nardoza To Retire, Miles Socha Named WWD EIC. He co-founded Firefly Mobile Inc which won the 2006 CES Innovation Award. Publix CEO Todd Jones is a member of Florida Governor Rick DeSantiss Re-Open Florida Task Force. He dated models and actresses like Devon Aoki and Lara Flynn Boyle and partied in high-society circles. Second, we must demand accountability from the corporations bankrolling the politicians that are willing to subvert the will of voters (click here to sign our petition). 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. It looks like Penske was making bipartisan donations and then switched to making donations to the Democratic party. 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.". The former executive recalled the early days of PMC when he opted to use the full name, Penske Media Corporation, in his email signature for the name recognition. In the contentious 2020 election season, the other side is employing two key strategies to stop BIPOC communities voices from being heard. 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. You don't need glory to make money.". Oct 25, 2020, 5:20 AM. This is a BETA experience. Raytheons PACs are major donors both nationally and at the state level in Arizona. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. #BoycottRollingStone pic.twitter.com/LhqaLz1lwL, I support #BoycottRollingStone bc Useful Idiots was a damn good show that shouldnt have been canceled.Oh & they finance crimes against humanity.https://t.co/QX6HA3Muw1, Penske Media owns Rolling Stone, Variety and Indiewire. "He knew the nuances of the Latino community [and] had very specific questions on how to reach those markets," Lee said, adding that "it was very clear" that he was "going to be very successful. } ", Another veteran media executive put it more bluntly: "He doesn't strive for greatness. He is also the chairman and CEO of Penske Media Corporation (PMC). },false) Mike Madsden, the President & CEO of Honeywell Aerospace, sits on the board of the Greater Phoenix Economic Council, a powerful business lobbying group in Arizona. 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. Raytheon-owned Pratt & Whitney is also building a large, $650 million plant in Asheville, NC. In October 2019, one year after Khashoggi's death, PMC's luxury lifestyle magazine Robb Reporthosted a secretive five-day party on an abandoned Egyptian island off the coast of Saudi Arabia. I was done w that wet rag the millisecond they put a terrorist on the cover. eventAction: 'view' NFLX Liz, who is the companys CEO, is also an economic adviser to Trump. I'm a media/tech/entertainment writer, podcaster, speaker and analyst, AT&T SportsNet, Another Regional Sports Network, Could Be Declaring Bankruptcy This Month, Apple TV+ Is Looking Into Streaming More Live Sports, Megyn Kelly Mocks NBCs Savannah Guthrie For Getting Covid: Shes Had All The Vaccines And Boosters, CNN Hits 10-Year Low As Fox News Glides To Victory In Cable News Ratings. MEAWW is an initialism for Media Entertainment Arts WorldWide. Why Doesnt Elon Musk Fund Twitter Until It Turns Around? CEO John Stankey is also a major Republican donor. ", The former executive said that PMC leadership tried to hire an executive coach for Penske, who would oscillate between micromanaging and disappearing for weeks at time, but "he completely rejected it. The elder Penskes company, Penske Corp, gave $676,000 in donations to Republican candidates in the 2020 election cycle, according to Opensecrets.org. He strives for good enough. The Demise of Rolling Stone: How A Legendary Magazine Sold Out to Trump and the Saudis https://t.co/eYsWb7kd0K, Does Lou Holtz deserve Presidential Medal of Freedom? The Hill Reporter stated that Hettena 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, demanding an explanation which the company responded with a simple tweet. 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. Ashley Furniture (Wisconsin & Florida)Wisconsin-based Ashley Furniture is the largest furniture store in the US and is owned by father-and-son duo Ronald and Todd Wanek. Although AT&T is best known as a telecommunications company, it is also a media giant that acquired WarnerMedia last year. Other publishers, such as Conde Nast and the New York Times "It's degrading.". (The woman was, indeed, white.). ", 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. jay penske political affiliation. A Twitter user added: "YOU TWITTER DRIPS.