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Penske Media Corporation acquired Sourcing Journal. Sourcing Journal, a publication focused on the sourcing and manufacturing industries, launched in 2009 with co-founders Edward Hertzman and Munir Mashooqullah. After eight years, it was acquired by Penske Media Corporation in October. Penske Media also currently owns Fairchild Media and Women’s Wear Daily and made this investment to secure how those titles report on the fashion and retail business. “The future of fashion will rely much more on material sciences, sourcing and technology, so to bring into the fold the leading media publication in that space opens important opportunities for our WWD and FN brands as well as for our readers and partners,” said PMC Chairman and CEO Jay Penske. “Eddie [Hertzman] is a remarkable entrepreneur,” said Penske. “We’re eager to work with him and the entire Sourcing Journal team to continue the growth of this emerging brand and leading platform.” Sourcing Journal’s editorial team provides investigative journalism, breaking news, analysis of global market conditions and industry white papers. “In the increasingly fast moving worlds of fashion, retail and beauty, the winners will be those with the most advanced and flexible logistics and sourcing capabilities,” said James Fallon, editorial director of WWD. “While WWD has always covered these areas, the acquisition of Sourcing Journal will enable us to provide more in-depth, up-to-the minute and insightful coverage of these vital areas for our global readers.” In addition to Fairchild, Penske’s portfolio also includes Variety Inc., Deadline Hollywood, Robb Report, TVLine.com, Hollywood Life, and IndieWire alongside PMC’s global events and data services. Sourcing Journal’s co-founders are excited to join those titles. “There’s something to be said about synergies and I think that’s what we’ve found with this move.
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