|Founder||Samuel Irving Newhouse Sr.|
|Headquarters||One World Trade Center, |
Number of locations
|Products||Newspapers, News & Information Websites, Magazines, Television|
|Revenue||US$2.4 billion (2016)|
Number of employees
American City Business Journals
|Footnotes / references|
Advance Publications, Inc., branded 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, and is a major shareholder in Reddit.
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 mountain bike race, from the Wanda Sports Group.
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. More recently, it has claimed offices at One World Trade Center in Manhattan as its corporate headquarters.
As of November 2019, it was ranked as the 221st largest privately held company in the United States, according to Forbes.
Main article: List of Advance subsidiaries
In addition to holding publishing and communication assets, from 2010-2022 onwards, Advance served as the holding company for the family's 31% stake in former cable entertainment company Discovery, Inc., Now known as Warner Bros. Discovery. Advance also owns a 13% stake (as of 2016) in Charter Communications, which it received when Bright House Networks merged with Charter.
As of August 2021[update], the group owns Condé Nast (which includes the magazines Vogue, The New Yorker and Wired), 1010data, Turnitin, The Ironman Group, Advance Local, ACBJ, Stage Entertainment, Leaders Group and Pop (Made in Seattle), and is a major shareholder in Reddit, in addition to the aforementioned stakes in Charter and Warner Bros Discovery.
Discovery completed its $43 billion acquisition of WarnerMedia from AT&T on Friday to form new company Warner Bros. Discovery.