The company owned and operated a number of major entertainment industry trade publications and their associated digital properties, including Adweek, Backstage, Billboard, Film Journal International, and The Hollywood Reporter.

On December 17, 2015, it was announced that Guggenheim would spin out its media properties to a group led by former executive Todd Boehly, known as Eldridge Industries.

The new format was meant to compete against up-and-coming blogs focusing on industry news, such as Deadline Hollywood and TheWrap, along with its then-struggling rival Variety.

[11][12][13] In January 2013, Guggenheim Partners acquired the stake in Prometheus owned by Pluribus Capital, giving it full ownership; following the acquisition, former Yahoo!

[14][15][16] In a January 2014 restructuring, Levinsohn was shifted to a business development role and no longer directly manages the Prometheus properties.

A representative stated that such a company would "likely be harmonious with Guggenheim, especially since Todd's role for some time has been strategic and transaction-oriented, rather than working in or managing any of our day-to-day businesses.