Penske Media acquires Indiewire from SnagFilms

People wondering what deal Jay Penske was stalking finally found out Tuesday with his announced acquisition of Indiewire.com from SnagFilms.

SnagFilms CEO Rick Allen said that all but two of Indiewire’s 30 staffers and free-lancers will be joining Penske Media.

Indiewire Editor-in-Chief Dana Harris is among those making the move to the new owner. Publisher James Israel will also make the move and report to Variety Publisher Michelle Sobrino.

Penske recently unveiled a new 100,000-square-foot facility in New York City at 475 Fifth Ave. to house Women’s Wear Daily and other Fairchild Publications, which Penske Media purchased last year from Condé Nast.

Penske also owns Variety, Deadline Hollywood and Hollywood Life.

Indiewire was started in 1996 by Eugene Hernandez, Mark Rabinowith and Cheri Barner and was originally called iLine. The company was sold to SnagFilms in 2008.