Rent Group
| Company type | Private |
|---|---|
| Industry | Digital media, real estate rental platforms |
| Predecessor | K-III Communications Corporation, Primedia, RentPath |
| Founded | 1989 |
| Founder | Bill Reilly, Kohlberg Kravis Roberts (co-founders) |
| Headquarters | United States |
Area served | United States |
Key people | Marc P. Lefar (President and CEO as of 2016) |
| Products | Rent.com, ApartmentGuide.com, Lovely, Rentals.com |
| Owner | Redfin (since 2021) |
| Website | rent |
Rent Group Inc., branded as Rent., operates as a digital media company managing rental platforms such as Rent.com, ApartmentGuide.com, Lovely, and Rentals.com. Its corporate identity has transitioned over time from K-III (1989–1997) through PriMedia (1997–2013) and RentPath (2013–2022), evolving from a prominent magazine publisher into a digital-focused media enterprise.
At one point, the organization owned more than 200 magazine titles, including notable publications like Chicago, New York, Automobile, Soap Opera Digest, Seventeen, and Weekly Reader.
Establishment as K-III
The company was created in 1989 under the name K-III Communications Corporation by Kohlberg Kravis Roberts alongside Macmillan Inc. president Bill Reilly, with the primary goal of acquiring media properties. Initial acquisitions encompassed Macmillan's Book Clubs, Gryphon Editions—which was later renamed Newbridge Communications—Intertec Publishing, and Webb Publishing from Maxwell Communications Corporation.
In 1990, K-III broadened its portfolio by purchasing Ward's from Thomson Corporation, business periodicals from Andrews Communications, Readers Garden book clubs, and both Weekly Reader and Funk & Wagnalls from Marshall Field V.
A major expansion occurred in 1991 when the company acquired nine magazines from News Corporation for $600 million, adding titles such as Daily Racing Form, Soap Opera Digest, New York, Seventeen, and Automobile to its roster.
Additional acquisitions included medical publisher Krames from Grolier and Films for the Humanities & Sciences in 1992; three magazines from Wiesner along with The World Almanac from E. W. Scripps Company in 1993; and in 1994, purchases of Stagebill, Gibbs College, Haas Publishing—known for publishing Apartment Guide—and PJS Publications.
Public offering
The company went public in 1995 through an initial public offering that sold 15 million shares at $12 each, while Kohlberg Kravis Roberts maintained an 82.2% ownership stake. That year also saw acquisitions of Maclean-Hunter’s US trade magazine operations, Chicago magazine from Landmark Media Enterprises, and McMullen & Yee Publishing, a publisher specializing in automotive magazines.
In 1996, it expanded further by acquiring 14 titles from Cahners Consumer Magazines—among them Pro Football Weekly—and purchasing Westcott Communications, which was later rebranded as Primedia Workplace Learning.
During 1997, the company added Farm Press, Park Avenue Publishing (publisher of Lowrider), and Intellichoice to its holdings. Concurrently, it divested Krames to Times Mirror Company, sold New Woman to Rodale, Inc., and transferred ownership of Gibbs College to Career Education Corporation.
Transition to Primedia; reducing print focus
On November 18, 1997, the firm adopted the name Primedia to better reflect its strategic focus.
In 1998, Primedia purchased Cowles Enthusiast Media and Cowles Business Media divisions from McClatchy Newspapers for $200 million. It divested titles such as Daily Racing Form, Stagebill, and Newbridge Communications while acquiring teen magazines from Sterling/MacFadden and Laufer Publishing.
By 1999, with stock performance stagnating, Primedia sold its education division—including assets like Weekly Reader and The World Almanac—to Ripplewood Holdings. It also acquired Multimedia Publishing and sold off magazines such as Better Nutrition, Southwest Art, and Vegetarian Times to Sabot Publishing.
In 2000, Primedia enhanced its digital footprint by acquiring About.com for $690 million.
In January 2001, the company entered a joint venture with Steven Brill aimed at editorial control over media trade publications but ended this partnership by October. That year also included the acquisition of EMAP’s U.S. magazines and the closure of Country Journal.
Throughout 2002, Primedia divested several significant titles: selling Modern Bride to Condé Nast Publications; transferring ownership of Pro Football Weekly to the Arkush family; selling Chicago magazine to Tribune Company; and passing on American Baby to Meredith Corporation.
Between 2003 and 2004, further sales included transferring ownership of Seventeen to Hearst Corporation for $182.4 million; selling New York magazine for $55 million; moving teen magazines like Tiger Beat and Bop to Laufer Media; and trading industry publications such as Folio and Circulation Management to a Red 7 Media joint venture.
In 2005, Primedia sold About.com to The New York Times Company for $410 million along with divesting Prism Business Media and Ward's automotive titles.
By 2006, although managing over 280 magazine brands, Primedia began streamlining its portfolio by selling history-related magazines to Weider History Group; offloading Crafts Group to Sandler Capital Management for $132 million; and transferring Outdoor Group assets to InterMedia Partners.
In 2007, it sold seventeen outdoor-focused magazines—including notable titles like Guns & Ammo—to InterMedia Outdoors for $170 million in cash. The Enthusiast Media division comprising more than seventy magazines such as Motor Trend plus consumer websites was sold for $1.15 billion to Source Interlink. Additional divestitures included Gems group sold to Interweave; transfer of Climbing magazine to Skram Media; Films for the Humanities & Sciences sold to Infobase Publishing; and Channel One News acquired by Alloy Media and Marketing.
During 2008-2009, Primedia continued its portfolio reduction by selling regional automotive guides to Target Media Partners and shutting down publications including Atlanta Auto Guide and Today's Custom Home.
Takeover by TPG Capital and transition into real estate
In 2011, Primedia was acquired by TPG Capital for $525 million, resulting in the company going private and being removed from the New York Stock Exchange. The following year, Primedia strategically entered the real estate market by purchasing rent.com from eBay.
By 2013, the company adopted the name RentPath, and in 2014 expanded its rental platform through the $13 million acquisition of Lovely. During that same year, Providence Equity Partners LLC secured a 50% ownership share, establishing a joint venture with TPG where both held equal stakes.
In July 2015, Chip Perry, previously CEO of Autotrader.com, took over as RentPath's president and CEO, replacing Charles Stubbs who continued serving on the board. Perry resigned in November 2015 to assume leadership at TrueCar. Subsequently, Marc P. Lefar was appointed RentPath’s president and CEO in April 2016.
Bankruptcy proceedings
RentPath filed for bankruptcy in February 2020 to enable its acquisition by CoStar, which had agreed to buy the company for $588 million. However, in December 2020, RentPath canceled the acquisition deal with CoStar. Later, in April 2021, Redfin completed the purchase of RentPath for $608 million. The company underwent a rebranding in June 2022, adopting the name Rent Group and stylizing it simply as "Rent.".