Penske Media Corporation is partnering with Rockbridge Growth Equity in a joint venture to expand the 40-year-old luxury title Robb Report.
Robb Report curates luxury products and services in categories such as private aircraft, boating, automobiles, wine and watches. The brand publishes 17 international editions in nine languages.
Brian Hermelin, managing partner for Rockbridge Growth Equity, stated on December 30 that the partnership with Penske Media Corporation (PMC) will “accelerate and drive Robb Report’s future growth.”
The joint venture will focus on expanding Robb Report’s digital reach, print subscription and event business, as well as improve its print distribution and product suite across its channels.
PMC stated it hopes to attract a broader global audience to Robb Report by building up its technology, analytics and digital platforms.
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Financial terms and details of the partnership were not disclosed.
Robb Report will continue to operate as an independent brand, but its New York and Malibu offices will move into the PMC headquarters on Fifth Avenue and PMC Tower on Santa Monica Boulevard, respectively.
Rockbridge Growth Equity, which is owned by businessman Dan Gilbert, acquired Robb Report in December 2014.
This time last year, PMC acquired film and TV news and reviews site IndieWire.com. The company owns over 20 digital media brands, including Variety, WWD and Deadline.