TOP NEWS Buys Entertainment Blog

Los Angeles-based Media Corporation, which operates the email service, said today that it has acquired an entertainment focused blog, Financial terms of the deal were not disclosed. was founded by Nikki Finke, a former Newsweek, Los Angeles Times, and New York Magazine writer and reporter. operates a number of online content-focused sites, including, and, in addition to its online email services. The company is backed by Quadrangle Capital Partners, which invested $35M in the firm back in October of last year. is run by Jay Penske, who was founder of Firefly Mobile; Penske also co-owns the IndyCar racing team Luczo Dragon, along with Seagate Technologies' Steve Luczo--Penske also happens to be the son of automotive magnate Roger Penske, owner of automotive firm Penske Corporation.