Penske Media Becomes Part-Owner of Robb Report
In 2014, around this same end-of-year time, Dan Gilbert’s Detroit-based equity firm Rockbridge Growth Equity purchased Malibu-based luxury publication Robb Report. For a rumored $60 million.
This week, another person who can afford the cars and other items lavishly displayed in the monthly magazine has come on board. In a deal announced late this week and set to formally close in the first week of January, Jay Penske’s Penske Media Corporation has struck a joint partnership with Rockbridge designed primarily to help grow the publication on the digital side.