Penske Media Purchases Indiewire.com
Independent film site joins Variety, Deadline Hollywood in Penske Media's entertainment portfolio.
Penske Media Corp. has acquired independent film site Indiewire from SnagFilms, Inc., the company announced today.
The twenty-year-old digital brand, which features news, reviews, and analysis of the independent film industry, will join Penske's existing entertainment brands Variety, Deadline Hollywood, TVLine.com, and Hollywood Life, among others.
"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 Penske Media chairman and CEO, Jay Penske, in a statement.
Launched by Eugene Hernandez in 1996, Indiewire's blog network now includes high-profile film industry commentators such as Anne Thompson, Leonard Maltin, and Peter Bogdanovich.
The acquisition follows Penske's $100 million purchase of Fairchild Media—owners of fashion media brands WWD, among others—from Condé Nast in August of 2014 and, more recently, its acquisition of entertainment awards prediction site GoldDerby.com last July.
Terms of the deal were not disclosed, although Penske has confirmed that Indiewire's editor-in-chief, Dana Harris, will remain in her current position after Indiewire's operations are transferred to Penske's offices in Los Angeles and New York, reporting directly to Jay Penske. Publisher James Israel will also continue to lead sales and marketing, reporting to Variety publisher Michelle Sobrino and Penske Media's EVP of strategy, George Grobar.
"We'll be expanding our coverage even further, and our reach. We'll be bigger and better," writes Harris in a note on Indiewire.com. "But the most fundamental elements will remain unchanged: We remain committed to covering the best in film and television with voices that are fresh, strong, and unique."