Penske Media Corp. has acquired Indiewire, a digital news source on the independent film and television industries, from SnagFilms Inc. Financials of the deal were not disclosed.
Founded in 1996, Indiewire joins PMC’s stable of entertainment-centric properties, including Variety Inc., Deadline Hollywood, TVLine.com, Hollywood Life, Gold Derby, Variety Insight, Bollywood Life, LA411, NY411 and Variety Latino, which is a joint venture with Univision. The deal follow’s PMC’s purchase of Fairchild Media, which includes WWD, from Condé Nast in 2014.
“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 chief executive officer 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 [over-the-top] platforms.”
Indiewire editor in chief Dana Harris will continue to lead the editorial operations of the site 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 of strategy George Grobar. Indiewire will move its New York operations to PMC’s headquarters at 475 Fifth Avenue under the management of its deputy editor Eric Kohn.
Indiewire editor 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.”