Penske Media Corporation (PMC) has acquired Indiewire.com, the foremost website for independent film and television news. The purchase furthers PMC’s expansion in the entertainment content and news businesses, joining leading entertainment brands that include Variety, Deadline Hollywood, TVLine.com, HollywoodLife, Gold Derby, Variety Insight, BollywoodLife, Variety 411 and Variety Latino.
Financial terms of the PMC acquisition from SnagFilms Inc., which has owned Indiewire since 2008, were not disclosed.
“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 family is an exciting opportunity to further ignite a pioneering brand while advancing its coverage of the TV industry, digital, and emerging OTT platforms.”
Over the past two decades, Indiewire.com has evolved into an iconic brand and must-read online destination, attracting a loyal following of filmmakers, industry leaders and fans of independently-produced movies and TV content. Under its eight-year ownership by SnagFilms, Chairman Ted Leonsis and CEO Rick Allen and their team have continued to grow Indiewire’s reach and ascendance within the journalistic and creative communities.
“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,” said 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.”
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 almost 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.”