Advance Publications, Inc.,
doing business as Advance, is an American media company owned by the descendants of
S.I. Newhouse Sr.,
Donald Newhouse and
S.I. Newhouse Jr. It owns a large number of subsidiary companies, including
Condé Nast
Condé Nast () is a global mass media company founded in 1909 by Condé Montrose Nast, and owned by Advance Publications. Its headquarters are located at One World Trade Center in the Financial District of Lower Manhattan.
The company's m ...
, and is a major shareholder in
Reddit
Reddit (; stylized in all lowercase as reddit) is an American social news aggregation, content rating, and discussion website. Registered users (commonly referred to as "Redditors") submit content to the site such as links, text posts, imag ...
.
History
The company is named after the ''
Staten Island Advance'', the first newspaper owned by the Newhouse family, in which Sam Newhouse bought a controlling interest in 1922.
In August 2018, Advance/Newhouse ("A/N") notified Charter Communications that it intended to establish a credit facility collateralized by a portion of Advance/Newhouse Common Units in
Charter Communications Holdings, LLC. That same month, Condé Nast CEO Robert A. Sauerberg Jr. announced his five-year strategy to generate $600 million in new revenue from new revenue streams while driving costs out of the business.
In March 2020, the company acquired The Ironman Group, a mass participation sports platform including the
Ironman Triathlons and
Absa Cape Epic
The Absa Cape Epic, founded by Kevin Vermaak and also known as the Cape Epic, is an annual mountain bike stage race held in the Western Cape, South Africa. First staged in 2004, it has been accredited as ''hors catégorie'' (beyond categor ...
mountain bike race, from the
Wanda Sports Group.
Description
For most of its history, Advance did not have an official headquarters; most publications listed the ''Advance'' offices in Staten Island's
Grasmere neighborhood as its nominal headquarters.
, it was ranked as the 221st largest
privately held company
A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is ...
in the United States, according to ''
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...
.''
Subsidiaries
, the group owns
Condé Nast
Condé Nast () is a global mass media company founded in 1909 by Condé Montrose Nast, and owned by Advance Publications. Its headquarters are located at One World Trade Center in the Financial District of Lower Manhattan.
The company's m ...
(which includes the magazines ''
Vogue
Vogue may refer to:
Business
* ''Vogue'' (magazine), a US fashion magazine
** British ''Vogue'', a British fashion magazine
** ''Vogue Arabia'', an Arab fashion magazine
** ''Vogue Australia'', an Australian fashion magazine
** ''Vogue China'', ...
'', ''
The New Yorker
''The New Yorker'' is an American weekly magazine featuring journalism, commentary, criticism, essays, fiction, satire, cartoons, and poetry. Founded as a weekly in 1925, the magazine is published 47 times annually, with five of these issues ...
'' and ''
''Wired''''
),
1010data,
Turnitin, The Ironman Group, Advance Local,
ACBJ,
Stage Entertainment, Leaders Group and Seattle-based digital agency Pop, Inc., and is a major shareholder in
Reddit
Reddit (; stylized in all lowercase as reddit) is an American social news aggregation, content rating, and discussion website. Registered users (commonly referred to as "Redditors") submit content to the site such as links, text posts, imag ...
.
The company holds an 8.16% ownership in media conglomerate
Warner Bros. Discovery, carried over from its 31% stake in predecessor
Discovery, Inc. Advance also owns a 13% stake (as of 2016) in
Charter Communications, which it received when
Bright House Networks merged with Charter.
References
Further reading
*
*
External links
*
{{Authority control
1922 establishments in New York City
Business newspapers published in the United States
Companies based in Staten Island
Magazine publishing companies of the United States
Newspaper companies of the United States
Publishing companies based in New York City
Privately held companies based in New York City
Publishing companies established in 1922
Warner Bros. Discovery
American companies established in 1922
Holding companies of the United States
Family-owned companies of the United States