Advance Publications, Inc.,
doing business as Advance, is an American media company owned by the descendants of
S.I. Newhouse Sr.,
Donald Newhouse
Donald Edward Newhouse (born 1929) is an American billionaire heir and business magnate. He owns Advance Publications, founded by his father, Samuel Irving Newhouse Sr., in 1922, whose properties include Condé Nast (publisher of such magazines a ...
and
S.I. Newhouse Jr. It owns a large number of subsidiary companies, including
Condé Nast, and is a major shareholder in
Reddit.
History
The company is named after the ''
Staten Island Advance
The ''Staten Island Advance'' is a daily newspaper published in the borough of Staten Island in New York City. The only daily newspaper published in the borough, and the only major daily paper focused on a borough, it covers news of local and ...
'', 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 Triathlon
An Ironman Triathlon is one of a series of long-distance triathlon races organized by the World Triathlon Corporation (WTC), consisting of a swim, a bicycle ride and a marathon run completed in that order, a total of . It is widely consider ...
s and
Absa Cape Epic mountain bike race, from the
Wanda Sports Group.
Description
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.
, it was ranked as the 221st largest
privately held company in the United States, according to ''
Forbes.''
Subsidiaries
, the group owns
Condé Nast (which includes the magazines ''
Vogue'', ''
The New Yorker'' and ''
''Wired''''
),
1010data
1 (one, unit, unity) is a number representing a single or the only entity. 1 is also a numerical digit and represents a single unit of counting or measurement. For example, a line segment of ''unit length'' is a line segment of length 1. I ...
,
Turnitin, The Ironman Group, Advance Local,
ACBJ,
Stage Entertainment, Leaders Group and Seattle-based digital agency Pop, Inc., and is a major shareholder in
Reddit.
The company holds an 8.16% ownership in media conglomerate
Warner Bros. Discovery, carried over from its 31% stake in predecessor
Discovery, Inc.
Discovery, Inc. was an American multinational mass media factual television conglomerate (company), conglomerate based in New York City. Established in 1985, the company operated a group of factual television, factual and lifestyle television bra ...
Advance also owns a 13% stake (as of 2016) in
Charter Communications, which it received when
Bright House Networks merged with Charter.
References
Further reading
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External links
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{{Authority control
1922 establishments in New York City
Business newspapers published in the United States
Companies based in Staten Island
Magazine publishing companies of the United States
Newspaper companies of the United States
Publishing companies based in New York City
Privately held companies based in New York City
Publishing companies established in 1922
Warner Bros. Discovery
American companies established in 1922
Holding companies of the United States
Family-owned companies of the United States