Penske Media is not even done settling Rolling Stone under its roof as yet and already the growing media giant has scooped up yet another media property. This time the latest brand to join the Penske Media family of brands is SheKnows Media and its other brands like StyleCaster and BlogHer expanding Penske’s digital audience reach by some 379 million including monthly web traffic. This latest deal comes behind Penske’s recent intake of about $225 million from a Saudi based fund. SheKnows’ current leadership will stay in place and employees will continue to work out of the company’s current offices until they are moved into Penske’s headquarters later on this year.
“We are thrilled to join PMC to accomplish our goal of building out the SheKnows brands and further engaging our more than 300 million social followers,” said SheKnows Media CEO Philippe Guelton. “We view PMC as the best home for our brands and our audiences for decades to come.”
This acquisition gives Penske a huge leap into the coveted young female demo where companies like Meredith have long lived.
You might also like
More from ACQUISITIONS
As expected, Meredith, the world's biggest magazine publisher thanks to its acquisition of Time Inc, has brought in some banking …
Comcast CEO Brian Roberts is up to something. If he was trying to get the attention of Disney CEO Robert …