From a PR standpoint, it’s been a strange week for PMC.
On Tuesday, Jay Penske’s operation rolled out a new weekly edition of Variety. But for a variety of reasons (pun intended, sorry), the launch yielded not nearly the boffo media splash it should have.
Now, at the end of a Passover/Good Friday week’s close, there is news of the settlement of a contentious IP theft lawsuit filed by PMC against Hollywood Reporter parent-parent company Prometheus Global Media. In this case, perhaps PMC was readying a big Cesar Chavez Day press release. But instead, Wall Street Journal reporter Ben Fritz this afternoon got to the court documents first, followed by TheWrap’s Lucas Shaw:
When PMC filed the suit, it was seeking more than $5 million in damages, accusing THR of lifting source code from PMC’s site TVLine.com. The two parties settled on $162,500 as well as some other pieces that have not been made public, according to an individual with knowledge of the suit.