Penske Media Corporation (PMC) and its subsidiary Fairchild Fashion Media, which runs Women's Wear Daily and Footwear News, have announced the acquisition of FashInvest. Described as a media platform where entrepreneurs, investors and fashion industry executives exchange information and raise new capital, FashInvest will continue to be run as an independent publication. It will give PMC an opportunity to deepen ints coverage of emerging companies, startups and financial institutions operating in the sector. PMC, which also owns Variety and other publications, bought Fairchild from Condé Nast in 2014.