After TheWrap requested comment, Penske updated its original story from February 2018 to disclose the investor
For months I’ve been mystified by Jay Penske’s silence over the $200 million investment stake his company, Penske Media Corporation, took from a Saudi government-backed company in February 2018.
Since the murder and dismemberment of Washington Post opinion writer and Saudi dissident Jamal Khashoggi in October 2018, Saudi Arabia has become persona non grata in the world of media and entertainment if not in our government. U.S. intelligence reports confirm that Crown Prince Mohammed bin Salman himself ordered Khashoggi killed.
Endeavor, the parent company of talent agency WME and sports conglomerate IMG, found its own $400 million investment from the Saudi Public Investment Fund untenable. The Hollywood company returned the investment in March of this year.
The United Kingdom just opened a state inquiry into a Saudi businessman’s investment into two of its newspapers, the Independent and Evening Standard, because of concerns over foreign interference.
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