Penske Media Group, the owner of some of Hollywood’s most-read trade publications, has sold its programming-focused outlet TV Line to Static Media, the companies confirmed on Monday.
Static Media said TV Line will join its portfolio that spans entertainment, lifestyle, food, health and automotive. Among its other outlets are Jalopnik, Chowhound, The Takeout, SlashFilm, Looper, The List, Tasting Table, House Digest and Glam.
TV Line launched in 2011 as a destination for television news, interviews, spoilers, recaps and reviews. The site’s editor-in-chief Kimberly Roots will remain with the brand along with most staffers, though co-editor Matt Mitovich will step down.
Penske Media will retain a number of its other trade publications, including Deadline Hollywood, the Hollywood Reporter, Variety, Rolling Stone and Sportico. Earlier this year, Penske Media sold its tech publication Boy Genius Report (BGR) to Static Media for an undisclosed sum.
As a private company, Penske Media is not required to disclose its financial earnings or other elements of its business. But there are signs that the largest owner of entertainment trade publication has hit some turbulence in recent times: Earlier this month, Status News publisher Oliver Darcy revealed layoffs affecting dozens of staffers at the Hollywood Reporter and Variety, which were not previously known.
Static Media was established in 2012 by CEO Reggie Renner and chief technology officer Mike Langin. It employs more than 200 people and says its properties collectively reach over 220 million unique visitors each month. Growth has accelerated since a 2023 investment from Canadian private equity firm Novacap, which acquired a stake through its TMT VI fund. Previous investors included billionaire Mark Cuban.
