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Penske Hollywood reporter sale reportedly under DOJ scrutiny

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The Justice Department has launched an investigation to see if the acquisition of Penske Medias The Hollywood Reporter violates antitrust statues, sources reportedly Told The New York Post.The purchase would consolidate three of the entertainment industry’s top four trade publications under one owner, potentially raising concerns about anti-competitive practices.

The investigation appears to be in a preliminary phase, sources say New York Postwill likely last for several months, with investigators contacting third parties who do business with THR and the existing properties of Penske Medias to try to understand how consolidation could impact operations.

The DOJ will seek assurance that Penske Media is not able to unduly control the cost of advertising to audiences in the entertainment industry and that purchasing will not make it difficult for new publications to enter the industry.

Any decision to intervene in the agreement will be made at the end of the investigation.


RELATED: Variety and The Hollywood Reporter, Hollywood’s Two Biggest Trade Publications, Are Now Sister Magazines


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