• ABOUT
    • Contact
    • The Team
    • FAQ
    • Use & Privacy Policy
  • ADVERTISE
  • ROWFAX
  • JOB LISTINGS
MusicRow.com
  • CALENDARS
    • Album/EP Releases
    • Single/Track Releases
    • Industry Events
  • OBITS
  • CHARTS
    • Radio Chart (Current)
    • Radio Chart (Archives)
    • No. 1 Challenge Coin
    • Songwriter Chart (Current)
    • Songwriter Chart (Archives)
  • REVIEWS
  • MY STORY
  • NEWSLETTER
    • Newsletter (Current)
    • Newsletter (Archives)
    • SIGN UP (FREE!)
  • SUBSCRIBE
  • STORE
  • Click to open the search input field Click to open the search input field Search
  • Menu Menu

PMC, MRC Enter Joint Venture To Operate ‘Billboard,’ ‘Rolling Stone,’ More

September 23, 2020/by Jessica Nicholson

Media and entertainment companies Penske Media Corporation and MRC have entered a joint venture deal to establish PRMC, it was announced today (Sept. 23) by PMC CEO Jay Penske and MRC CEOs Asif Satchu and Modi Wiczyk.

The deal puts iconic entertainment brands including PMC’s Rolling Stone, Variety and Music Business Worldwide, and MRC’s Billboard, The Hollywood Reporter and VIBE under the same roof. PMC acquired Variety in 2012, and invested in Music Business Worldwide earlier this year.

Penske Media Corporation will lead PMRC’s day-to-day operations. MRC will make use of its content production assets—including Dick Clark Productions—to develop new content and business opportunities. MRC also brings its production infrastructure to the deal, including the Netflix show Ozark and movies such as Knives Out.

There will be a transition period throughout the end of the year. According to the release, there are no leadership changes at PMC or MRC as a result of the ventures and both PMC and MRC will continue to operate independently.

“These are all brands I’ve long admired. Billboard, The Hollywood Reporter, and VIBE have created some of the finest content in their respective industries and have contributed immensely to the heightened quality of journalism covering entertainment and music today,” said Penske. “We feel very fortunate for this valuable partnership with the exceptional MRC team and the opportunity to continue the legacy of these tremendous brands for the next many decades.”

“We have a great deal of respect for Variety, Rolling Stone and Music Business Worldwide and, as importantly, the leadership at PMC who we’ve gotten to know well and look forward to partnering with in both these businesses,” said Satchu and Wiczyk.

  • Author
  • Recent Posts
Jessica Nicholson
Jessica Nicholson
Jessica Nicholson serves as the Managing Editor for MusicRow magazine. Her previous music journalism experience includes work with Country Weekly magazine and Contemporary Christian Music (CCM) magazine. She holds a BBA degree in Music Business and Marketing from Belmont University. She welcomes your feedback at jnicholson@musicrow.com.
Jessica Nicholson
Latest posts by Jessica Nicholson (see all)
  • CMA Honors Robert Deaton With Chairman’s Award - December 4, 2020
  • Nashville Symphony, Nashville Musicians Association Reach Agreement - December 4, 2020
  • Zach Williams’ “Chain Breaker” Is Most-Added On ‘MusicRow’ CountryBreakout Radio Chart - December 4, 2020
Share this entry
  • Share on Facebook
  • Share on X
  • Share on LinkedIn
  • Share by Mail
https://music-row-website-assets.s3.amazonaws.com/wp-content/uploads/2020/09/10141640/Penske.png 424 621 Jessica Nicholson https://musicrow.com/wp-content/uploads/2019/03/MusicRow-header-logo-Mar19B.png Jessica Nicholson2020-09-23 11:48:082020-09-28 22:57:39PMC, MRC Enter Joint Venture To Operate ‘Billboard,’ ‘Rolling Stone,’ More

RECENT NEWS

  • Amazon Expanding In Nashville Yards May 15, 2025
  • Rebel Music Opens Nashville Office, Hosts Open House [See Photos] May 15, 2025
  • DISClaimer Single Reviews: Megan Moroney Salutes ‘The King Of No-Shoes Nation’ May 15, 2025
  • Industry Ink: Rosanne Cash & John Leventhal, ‘Brenda Lee: Rockin’ Around’ John Driskell Hopkins, More May 15, 2025
  • Outback Presents Names Andrew Farwell President May 15, 2025
  • Sony Music Publishing Nashville & Verse 2 Music Extend Partnership May 15, 2025
  • Lineup Revealed For 12th Annual K-LOVE Fan Awards May 15, 2025
  • CMA Fest Unveils 2025 Fan Fair X Schedule May 15, 2025
  • Harris, Huelsman, Barnes & Company Elevates One, Adds Two To Team May 15, 2025
  • McCoy Moore Signs With Sony Music Nashville May 15, 2025

Like Us on Facebook

Follow Us on Twitter

Tweets by MusicRow
© 2025 Music Row Enterprises, LLC – All rights reserved.
Website hosted by Nashville web design company, All My Web Needs.
  • Link to Facebook
  • Link to X
  • Link to Instagram
Scroll to top