Advance Publications, Inc. is a

privately held A privately held company (or simply a private company) is a company whose Stock, shares and related rights or obligations are not offered for public subscription or publicly negotiated in their respective listed markets. Instead, the Private equi ...

American media company owned by the families of Donald Newhouse and Samuel Irving Newhouse Jr., the sons of company founder Samuel Irving Newhouse Sr. It owns publishing-related companies including

American City Business Journals American City Business Journals, Inc. (ACBJ) is an American newspaper publisher based in Charlotte, North Carolina. ACBJ publishes ''The Business Journals'', which contains local business news for 44 markets in the United States with each market ...

, MLive Media Group, and

Condé Nast Condé Nast () is a global mass media company founded in 1909 by Condé Nast (businessman), Condé Montrose Nast (1873–1942) and owned by Advance Publications. Its headquarters are located at One World Trade Center in the FiDi, Financial Dis ...

, and is a major shareholder in Charter Communications (13% ownership),

Reddit Reddit ( ) is an American Proprietary software, proprietary social news news aggregator, aggregation and Internet forum, forum Social media, social media platform. Registered users (commonly referred to as "redditors") submit content to the ...

(30% ownership), and Warner Bros. Discovery (8% ownership).

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. On August 25, 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 Triathlon An Ironman Triathlon is one of a series of long-distance triathlon races organized by the World Triathlon Corporation (WTC), consisting of a swim, a bicycle ride and a marathon run completed in that order, a total of . It is widely consid ...

s and Absa Cape Epic mountain bike race, from the Wanda Sports Group.

Description

For most of its history, Advance had no official headquarters; most publications listed the ''Advance'' offices in Staten Island's Grasmere neighborhood as its nominal headquarters. While it did not have a corporate headquarters, Advance operated a press bureau in Washington, D.C.—the Newhouse News Service (NNS). Opened in 1961, NNS served as a national news bureau for all Advance portfolio publications until it closed in late 2008 as a cost-cutting measure due to the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

. Advance was ranked as the 221st largest

privately held company A privately held company (or simply a private company) is a company whose Stock, shares and related rights or obligations are not offered for public subscription or publicly negotiated in their respective listed markets. Instead, the Private equi ...

in the United States, according to ''

Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

''.

Subsidiaries

the group owns

(which includes the magazines '' Vogue'', ''

The New Yorker ''The New Yorker'' is an American magazine featuring journalism, commentary, criticism, essays, fiction, satire, cartoons, and poetry. It was founded on February 21, 1925, by Harold Ross and his wife Jane Grant, a reporter for ''The New York T ...

'', and '' ''Wired'')'', The Ironman Group, Turnitin, Advance Local,

Stage Entertainment Stage Entertainment is an international operating live entertainment company, a subsidiary of Advance Publications. The company was founded in 1998 by Joop van den Ende in Amsterdam. History The Netherlands / Corporate The root of the company l ...

, Leaders Group, and the

Seattle Seattle ( ) is the most populous city in the U.S. state of Washington and in the Pacific Northwest region of North America. With a population of 780,995 in 2024, it is the 18th-most populous city in the United States. The city is the cou ...

-based digital agency Pop, Inc., and is a large shareholder in

. 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

External links

* {{Authority control 1922 establishments in New York City American companies established in 1922 Business newspapers published in the United States Companies based in Staten Island Family-owned companies of the United States Holding companies of the United States Magazine publishing companies of the United States Newhouse family Newspaper companies of the United States Privately held companies based in New York City Publishing companies based in New York City Publishing companies established in 1922 Warner Bros. Discovery

History

Description

Subsidiaries

References

Further reading

External links