The list of brands that Penske Media Corporation owns or has invested in is long: Billboard, Variety, The Hollywood Reporter, Rolling Stone, Music Business Worldwide, Deadline, and dozens more.

What's Penske's long game? Are these companies better off? Where would these companies be without Penske? Which companies are most likely next?

To break it all down, I'm joined by Bill Werde, former Billboard editorial director, author of Full Rate No Cap, and the Director of Bandier Program of Recording and Entertainment and Syracuse’s Newhouse School.

This episode is brought to you by 4se New York, where sports and entertainment come alive.

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