Advance Publications
Advance Publications, Inc. is a privately held 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 a large number of subsidiary companies, including American City Business Journals and Condé Nast, and is a major shareholder in Charter Communications, Reddit and Warner Bros. Discovery.
Advance
May 12, 1924
One World Trade Center, New York City, New York, U.S.,
102
Worldwide
- Steven Newhouse (chairman)
- Oren Klein (CFO)
- Donald Newhouse (president)
Newspapers, news & information websites, magazines, television
US$2.4 billion (2016)
Newhouse family
12,000
- Advance Local
- American City Business Journals
- Condé Nast
- Charter Communications (13%)
- Reddit (30%)[1]
- Warner Bros. Discovery (8%)
History[edit]
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.[3]
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.[4] 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.[5]
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.[6]
Description[edit]
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.[3]
While it did not have a corporate headquarters, Advance did operate 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 2007–2008 financial crisis.[7]
As of November 2019, Advance was ranked as the 221st largest privately held company in the United States, according to Forbes.[8]
