BREAKING: PMC’s Jay Penske Arrested, Charged in Nantucket

There is a gigantic Hollywood media story crossing the wire from Massachusetts, courtesy of The Inquirer and Mirror’s Jason Graziadei.

According to the shocking dispatch, Jay Penske, 33-year-old CEO of Nikki Finke parent company Penske Media Corporation, was arrested early this morning along with his older brother Mark for an alleged break-in at the Nantucket Yacht Club. And that’s not all:

According to a police report, the incident was initially reported as an assault and battery when two women approached police on Broad Street, claiming they had been assaulted by two men, later identified as the Penske brothers, at the yacht club’s parking lot.

One of the women claimed the Penske brothers were urinating in the parking lot, and that when she confronted Jay Penske, he “turned and continued to urinate on her boots. He then proceeded to grab her arm and push her… Police claimed they apprehended Jay Penske attempting to run away from the club, and that they found Mark Penske at the employee apartment after he had fallen down the staircase, suffering several cuts on this right arm.

According to the same police report, the women chose not to press charges and the Penskes are not members of the Nantucket Yacht Club. The pair were arraigned this morning on charges of breaking and entering in the nighttime with intent to commit a misdemeanor.

Update – 08/10/12: A PMC spokesperson told the New York Post “These so-called ‘facts’ published by various media outlets are erroneous, and PMC has been assured that the misdemeanor charge for trespassing against Jay Penske will be resolved.’’