Advance Publications
| Company type | Private |
|---|---|
| Industry | Media |
| Founded | 1922 |
| Founder | Samuel Irving Newhouse Sr. |
| Headquarters | Staten Island, New York , United States |
Key people | Donald Newhouse, Samuel Irving Newhouse Jr., Robert A. Sauerberg Jr. (CEO of Condé Nast) |
| Products | Publishing (Condé Nast, American City Business Journals, MLive Media Group), Sports events (The Ironman Group), Digital media (Reddit) |
| Owner | Newhouse family |
| Parent | Advance Publications, Inc. |
Advance Publications, Inc. is a privately owned American media enterprise controlled by the Newhouse family, descendants of founder Samuel Irving Newhouse Sr., specifically his sons Donald Newhouse and Samuel Irving Newhouse Jr.. Its portfolio includes publishing entities such as American City Business Journals, MLive Media Group, and Condé Nast. Additionally, it possesses considerable equity positions in companies like Charter Communications (13%), Reddit (30%), and Warner Bros. Discovery (3.97%).
History
The company's name originates from the Staten Island Advance, the initial newspaper acquired by the Newhouse family when Sam Newhouse secured controlling interest in 1922.
On August 25, 2018, Advance/Newhouse ("A/N") informed Charter Communications about intentions to create a credit facility collateralized by Advance/Newhouse Common Units in Charter Communications Holdings, LLC. During that same month, Robert A. Sauerberg Jr., CEO of Condé Nast, presented a five-year plan aimed at generating $600 million in additional revenue while implementing cost reductions.
In March 2020, Advance completed the acquisition of The Ironman Group—a platform for mass participation sports events including the Ironman Triathlon series and the Absa Cape Epic mountain bike competition—from Wanda Sports Group.
Description
For much of its existence, Advance did not maintain a formal headquarters; most of its publications identified the Advance offices located in Staten Island's Grasmere neighborhood as their nominal base.
Advance maintained a Washington, D.C. press bureau known as the Newhouse News Service (NNS), established in 1961 to serve as a national news source for all Advance-owned outlets. This bureau was closed in late 2008 as part of cost-saving measures amid the 2008 financial crisis.
According to Forbes, Advance ranked as the 221st largest privately held company in the United States.
Subsidiaries
The corporation's holdings include Condé Nast, which publishes titles such as Vogue, The New Yorker, and Wired. Other subsidiaries encompass The Ironman Group, Turnitin, Advance Local, American City Business Journals, Stage Entertainment, Leaders Group, and Seattle-based digital agency Pop, Inc. The company also maintains a significant investment in Reddit.
Advance holds a 3.97% ownership interest in media giant Warner Bros. Discovery, inherited from its prior 31% stake in predecessor firm Discovery, Inc.. Furthermore, it owns a 13% share (as of 2016) in Charter Communications, obtained through the merger between Bright House Networks and Charter.