Penske Media Corp. has acquired Indiewire.com, the website specializing in the coverage of independent film and television.
Terms of the purchase from SnagFilms Inc., the site's owner since 2008, were not disclosed.
The deal announced Tuesday adds to Penske Media’s portfolio of Web properties that deliver news of the entertainment business, including Deadline Hollywood, TVLine.com, Hollywood Life, Gold Derby and Bollywood Life. Penske Media also owns the digital and print versions of show business bible Variety.
“Indiewire has a rich history as one of the early innovators in digital media -- and I’ve long admired the company and its team’s dedication to informing and breaking the most essential news in independent film,” Penske Media Chairman and CEO Jay Penske said in a statement. “Bringing Indiewire into the PMC organization is an exciting opportunity to further ignite a pioneering brand while advancing its coverage of the TV industry, digital, and emerging OTT platforms.”
Founded in 1996 by Eugene Hernandez, Indiewire.com developed a strong following with its focus on news and reviews for industry insiders and fans of independently produced movies and TV content.
SnagFilms CEO Rick Allen said in a statement that Penske Media was the "optimum home" for Indiewire.com to ensure its growth going forward.
The companies said Indiewire.com editor in chief Dana Harris will continue in her role and report to Penske. Publisher James Israel will also remain with the site, reporting to Variety publisher Michelle Sobrino and George Grobar, PMC's executive vice president of strategy.
For the record: An earlier version of this post misspelled the name of Variety publisher Michelle Sobrino.