Penske Media Corp., the parent company of WWD, Rolling Stone and Variety, has made a strategic investment in event management and technical production agency LDJ Productions. The financial terms of the transaction were not disclosed.
The investment diversifies PMC’s existing portfolio of media brands that also includes Rolling Stone, Robb Report, She Media, Deadline and ARTnews, and will boost its ability to further leverage content with an in-house live media team, according to a company release.
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PMC chairman and chief executive officer Jay Penske said: “While some might only see a challenging environment for all live events and experiences, I see an opportunity to partner with one of the finest experiential agencies in the world and more closely collaborate with LDJ’s unparalleled ability to deliver innovative, quality experiences across our brands for many years to come.”
Based in New York, LDJ’s clients includes Fortune 500 companies across fashion, beauty, tech, media, finance and luxury automotive. It’s also no stranger to PMC brands, having previously worked with Rolling Stone, WWD and She Media.
As well as live events, LDJ has invested in LDJ+, its virtual events platform as the industry pivots to connecting with their audiences digitally.
“We look forward to leveraging our expertise with PMC’s ambitious and forward-thinking brand leaders as we collectively dream up new ways to provide meaningful experience-driven connections for our clients,” added LDJ ceo Laurie DeJong.
The investment comes just over a month after PMC announced it was launching Sportico, a digital content platform providing sports industry news, data, information and live media.
Last year, it took full ownership of Rolling Stone, purchasing the remaining 49 percent stake in the music and culture title from BandLab Technologies.
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