Penske Media Corporation (PMC) has acquired Indiewire.com — which covers independent film and television — from the Ted Leonsis- and Rick Allen-led SnagFilms, Inc.
“Indiewire has a rich history as one of the early innovators in digital media — and I’ve long admired the company and its team’s dedication to informing and breaking the most essential news in independent film,” said PMC Chairman and CEO Jay Penske. “Bringing Indiewire into the PMC organization is an exciting opportunity to further ignite a pioneering brand while advancing its coverage of the TV industry, digital, and emerging OTT platforms.”
“We are honored to have been Indiewire’s stewards, and seen it grow nearly 30-fold, since 2008. After careful consideration of the ingredients that could make the next eight years and beyond even more impactful, we determined that Penske Media would provide the optimum home for Indiewire,” added Allen. “Under Jay’s leadership, Indiewire will now join the most powerful properties in entertainment and culture; we could not be more excited about its future.”
Financial terms of the deal were not disclosed.
Indiewire Editor-in-Chief Dana Harris said: “I couldn’t be prouder of our team and what we’ve continued to build on the Indiewire brand that Eugene Hernandez spearheaded nearly 20 years ago. The opportunities offered by PMC are extraordinary and will allow us to grow and expand our unparalleled coverage of the best in film, television, and more.”
Harris will remain in charge of editorial and report to Jay Penske. Publisher James Israel will continue to lead sales and marketing while reporting to both Variety Publisher Michelle Sobrino and Penske Media Executive Vice President of Strategy George Grobar. Indiewire’s New York operations will move into the PMC headquarters at 475 Fifth Avenue under the management of deputy editor Eric Kohn.
“Under Penske Media’s ownership, Indiewire will remain an independent, dominant voice covering independent film, TV, and emerging OTT platforms,” per the Tuesday morning media release.
Indiewire was founded in 1996 and has been owned by SnagFilms since 2008. PMC brands include Variety, Deadline Hollywood, TVLine.com, Hollywood Life, Gold Derby, Variety Insight, Bollywood Life, LA411, NY411 and Variety Latino (a joint venture with Univision).