HOLDJA Horses! Penske Reportedly Back in Lead for Variety
The ominous, bizarre, hilarious specter of Mike Fleming and Jeff Sneider working for the same parent company has reared its head again. This time in the form of a Monday afternoon LA Times report by Ben Fritz:
Penske Media Corp., the owner of Deadline and six other online properties, is now the leading bidder for Variety, partnered with private equity fund Shamrock Capital Advisors, according to two knowledgeable people not authorized to discuss the matter publicly.
The company, led by Jay Penske (pictured), the 33-year-old son of automobile magnate Roger Penske, could close a deal to purchase the paper in the next three weeks for around $30 million, one of the people added.
We’ve written quite a bit about the very entertaining rivalry between Sneider and Fleming.
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