December 30, 2016 (New York NY and Detroit, MI) – Penske Media Corporation (PMC) and Rockbridge Growth Equity today announced the formation of a joint venture partnership in Robb Report, the global authority on luxury.
Celebrating its 40th year, Robb Report continues to be the ultimate source of inspiration and information about luxury products and services. With a focus on quality, craftsmanship and experience, Robb Report curates the best-of-the-best in all categories of luxury in 17 international editions and 9 languages.
“Over the past four decades Robb Report has cemented its position as the world’s leading brand for luxury lifestyle,” said PMC Chairman and CEO Jay Penske. “To bring the Robb Report onto the PMC digital platform is a remarkable opportunity to further propel this pioneering media brand.”
“The partnership with PMC is a strong strategic fit and joining forces will accelerate and drive Robb Report’s future growth,” said Brian Hermelin, Managing Partner for Rockbridge Growth Equity. “The joint venture and PMC’s investment allows us to focus our combined energies on expanding Robb Report’sdigital capabilities as well as continuing to improve its print distribution channels and event activation to deliver optimal consumer and advertiser experiences.”
Penske Media today owns and operates more than 20 media brands and over 80 annual events, summits, and live media — making it one of the largest digital media companies in the world. Penske Media is committed to being at the forefront of media convergence, and is well-positioned to grow and evolve the Robb Report business for a broader global audience, specifically by building on its strengths in technology, analytics and digital platforms. PMC and Rockbridge Growth Equity are committed to grow Robb Report’s digital reach and subscription while enhancing its product suite across all channels.
Founded in 1976, Robb Report has offices in Malibu, New York, Florida and Detroit. Rockbridge Growth Equity initially acquired Robb Report in December 2014.
Penske Media Corporation (PMC) is a leading digital media and information services company. PMC’s owned and operated brands reach more than 179 million visitors monthly (comScore, 2016) and Penske Media was recently named one of the Top 100 Private Companies in the United States and North America. With the preeminence of its brands, PMC is one of the largest digital media companies in the world, publishing more than 20 digital media brands, including its India.com joint venture with ZEE TV in India. PMC additionally owns and produces more than 80 annual events, summits, award shows and conferences while housing a dynamic research and emerging data business. As of 2016, PMC businesses include: PMC Studios, Variety Inc., WWD, Deadline.com, Fairchild Media, BGR.com, India.com, GoldDerby.com, FN, TVLine, CricketCountry.com, Hollywood Life, Beauty Inc, AwardsLine, Bollywood Life, LA411, NY411, Variety Insight, and Indiewire.com. The company is headquartered in New York, NY and Los Angeles, California with an additional 11 offices around the world. For more information about Penske Media, please visit www.PMC.com.
Robb Report is the global voice of real luxury, with its fingers on the pulse of the latest superlative products and experiences that today’s modern consumers seek. Our discerning and exceptionally affluent audience looks to Robb Report to inform, inspire, and impress through directional content curated by luxury experts, including coverage of automobiles, aircraft, fine dining, travel, timepieces and fine jewelry, style and design, arts and culture, spirits, and cigars. For more information, visit RobbReport.com and connect with us on Twitter (@robbreport), Instagram, Pinterest, and Facebook.