Deadline.com Owner arrested in the early hours

Jay Penske, The owner of Penske Media Corp has been arrested early Thursday morning for breaking into the Nantucket Yacht Club.

Penske, a high profile media mogul owns several industry web properties including Deadline.com and celebrity gossip site, HollywoodLife.com. According to THR, the CEO of PMC was with his brother Mark in the parking lot of the Yacht club when they allegedly assaulted two women. One accused the brothers of urinating in the parking lot then they both approached the two women, and Jay urinated on one of their shoes.

The Inquirer and Mirror also reported that police had arrested the pair on the grounds of an 'alleged break-in' at the Nantucket Yacht Club. The news comes just less than a week after Paramount ended its business relationshp with Deadline.com.

More to follow on this story as it happens...