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Billboard Executives Join Penske Media

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  Published in Business and Finance on Tuesday, February 17th 2026 at 8:53 GMT by TheWrap
      Locales: UNITED STATES, UNITED KINGDOM

Los Angeles, CA - February 17th, 2026 - In a significant shakeup within the music journalism landscape, Rachel Geoghegan and Jem Aswad, the co-chief content officers of Billboard's newsroom, are leaving their posts to join Penske Media Corporation (PMC). The move, confirmed today by The Hollywood Reporter, signals a continued period of flux for Billboard and a strategic power play by PMC to bolster its music industry coverage.

Geoghegan and Aswad's departure comes on the heels of ongoing restructuring and recent layoffs at Billboard, owned by PGNM (Parental Guidance Music Group). While PGNM has not publicly disclosed the reasons for the internal changes, industry analysts point to broader pressures facing traditional media outlets - declining advertising revenue, the shift to digital consumption, and the need to adapt to a rapidly evolving music ecosystem. These pressures have resulted in a wave of consolidation and re-evaluation of content strategies across the board.

Both Geoghegan and Aswad joined Billboard in 2018, quickly becoming central figures in shaping the publication's editorial direction. Their tenure saw a marked increase in the depth and quality of Billboard's reporting, particularly concerning the business and technological facets of the music industry. They are credited with expanding Billboard's coverage beyond chart rankings and artist profiles to encompass crucial topics such as streaming economics, the impact of AI on music creation, and the evolving relationship between artists and labels. Sources within Billboard describe them as champions of long-form investigative journalism, a commitment that has resonated with industry professionals and readers alike.

Penske Media, a powerhouse in digital media that owns titles like Variety, The Hollywood Reporter, and Rolling Stone, appears poised to leverage Geoghegan and Aswad's expertise. The company has been aggressively expanding its music coverage in recent years, recognizing the growing importance of the industry within its portfolio. PMC's strategy seems to be focused on creating a comprehensive, multi-platform content offering that appeals to both industry insiders and a broader consumer audience.

According to a statement released by Mark Minichello, co-president and chief operating officer of PMC, Geoghegan and Aswad will be instrumental in "expanding coverage of the music industry, with a particular emphasis on business and technology." This indicates PMC intends to double down on the analytical side of music journalism, providing in-depth reporting on the financial and technological forces reshaping the industry.

"Rachel and Jem are extraordinary talents who have a deep understanding of the music industry, and we're thrilled to welcome them to Penske Media," Minichello stated.

The timing of this move is noteworthy. The music industry is currently undergoing a period of profound transformation. Streaming continues to dominate music consumption, but artists are increasingly exploring alternative revenue streams, such as direct-to-fan platforms and NFTs. The rise of AI-generated music presents both opportunities and challenges for artists, labels, and songwriters. The legal landscape surrounding music rights is also constantly evolving, with ongoing debates over copyright and fair compensation.

Industry observers predict that PMC, with Geoghegan and Aswad at the helm of its expanded music coverage, will become a key source of information for navigating these complex issues. Billboard, meanwhile, faces the challenge of rebuilding its leadership team and maintaining its position as a leading voice in the music industry. The departure of two such influential figures underscores the competitive pressures facing legacy media brands in the digital age.

The broader trend of executive shifts within the music media sector highlights the ongoing battle for talent and the recognition that robust, insightful content is crucial for attracting audiences and maintaining relevance. As the lines between music, technology, and business continue to blur, companies like Penske Media are betting big on the power of experienced journalism to provide clarity and context.