Type | Private |
---|---|
Industry | Mass media |
Founded | 1922 |
Founder | Samuel Irving Newhouse Sr. |
Headquarters | One World Trade Center, , United States |
Number of locations | 102 |
Area served | Worldwide |
Key people | Steven Newhouse (Chairman) Oren Klein (CFO) Donald Newhouse (President) |
Products | Newspapers, News & Information Websites, Magazines, Television |
Revenue | ![]() |
Owner | Newhouse family |
Number of employees | 12,000 |
Subsidiaries | Advance Local American City Business Journals Condé Nast |
Website | www |
Footnotes / references [1] |
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.[2]
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.[3] 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.[4]
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.[5]
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.[2] More recently, it has claimed offices at One World Trade Center in Manhattan as its corporate headquarters.[6]
As of November 2019, it was ranked as the 221st largest privately held company in the United States, according to Forbes.[7]
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.,[8] Now known as Warner Bros. Discovery.[9] Advance also owns a 13% stake (as of 2016) in Charter Communications, which it received when Bright House Networks merged with Charter.[10][11]
As of August 2021[update], the group owns Condé Nast (which includes the magazines Vogue, The New Yorker and Wired[12]), 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.[13][12]