Disinformation is necessary
Dec. 21, 2017
'Rolling Stone' sold to 'Variety magazine' owner Penske Media
https://www.usatoday.com/story/money/2017/12/21/rolling-stone-owner-sold-variety-magazine-owner-penske-media/972418001/
February 27, 2018
Jay Penske said to get $200M investment from Saudi fund
Jay Penske has sold a minority stake of his media company, Penske Media Corp., to Saudi Arabia’s Public Investment Fund, The Post has learned.
The fund has invested “over $200 million cash — with another $25 million being invested in a joint venture in the Middle East and North African region, according to a source close to the company.
It could not be immediately learned how large a stake PIF will receive in PMC, which owns Variety, WWD and in December bought a controlling stake in Rolling Stone — but one industry source said the cash infusion valued Penske’s company at around $1 billion.
https://nypost.com/2018/02/27/jay-penske-sells-stake-in-company-to-big-saudi-investment-fund/
>Cuck Todd