Penske Media Corporatuion is the parent company of Rolling Stone (US), Variety, Music Business Worldwide, and more. MRC operates Billboard, Vibe, The Hollywood Reporter, and more. Today, the two companies annoucned a joint business venture which will be known as PMRC (no affiliation to the Tipper Gore organization). Penske will be taking over the daily operations of Billboard, the Hollywood Reporter, and Vibe. The two organizations have also founded a second joint venture with the goal of “mining the collective brand IP across all of its content divisions including television, film, live and alternative and nonfiction.”