RentPath Inc. is a
media company
Mass media refers to a diverse array of media technologies that reach a large audience via mass communication. The technologies through which this communication takes place include a variety of outlets.
Broadcast media transmit information e ...
that owns
Rent.com
Rent.com is an apartment search engine and online marketplace catering to millennials. It is owned by RentPath which is in turn owned by Redfin.
History
Rent.com was founded in 1999 as Viva.com. In December 2004, eBay purchased Rent.com for $415 ...
, ApartmentGuide.com, Lovely, and Rentals.com, which combined see 16 million visitors each month. It was previously called K-III and PriMedia. The company was acquired by
Redfin
Redfin Corporation, based in Seattle, operates a residential real estate brokerage in 95 markets in the United States and Canada and in other markets via partner/referral agents. Its business model includes charging home sellers below-average fe ...
in April 2021.
History
The company was founded in 1989 as K-III Communications Corporation by
Kohlberg Kravis Roberts
KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strate ...
.
In 1989, it acquired Macmillan Book Clubs and Gryphon Editions (renamed Newbridge Communications) and Intertec Publishing from
Macmillan Inc. and Webb Publishing from
Maxwell Communications Corporation
Maxwell Communication Corporation plc was a leading British media business. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index. It collapsed in 1991 following the death of its titular owner.
History
The com ...
.
In 1990, it acquired
Ward's
Ward's is an American organization that has covered the automotive industry for over 80 years.
The organization is responsible for several publications including, ''Ward's AutoWorld'', and ''Ward's Dealer Business''. Ward's also publish the an ...
from
Thomson Corporation
The Thomson Corporation was one of the world's largest information companies. It was established in 1989 following a merger between International Thomson Organisation Ltd (ITOL) and Thomson Newspapers. In 2008, it purchased Reuters Group to fo ...
It also acquired the business publications of Andrews Communications, Readers Garden, operator of special interest book clubs, and ''
Weekly Reader
''Weekly Reader'' was a weekly educational classroom magazine designed for children. It began in 1928 as ''My Weekly Reader''. Editions covered curriculum themes in the younger grade levels and news-based, current events and curriculum themed-i ...
'' and
Funk & Wagnalls
Funk & Wagnalls was an American publisher known for its reference works, including ''A Standard Dictionary of the English Language'' (1st ed. 1893–5), and the ''Funk & Wagnalls Standard Encyclopedia'' (25 volumes, 1st ed. 1912).Funk & Wagnalls N ...
from Marshall Field 5th.
In 1991, it acquired 9 magazines from
News Corporation
News Corporation (abbreviated News Corp.), also variously known as News Corporation Limited, was an American multinational mass media corporation controlled by media mogul Rupert Murdoch and headquartered at 1211 Avenue of the Americas in Ne ...
for $600 million: ''
Daily Racing Form
The ''Daily Racing Form'' (DRF) (referred to as the ''Racing Form'' or "Form" and sometimes "telegraph" or "telly") is a tabloid newspaper founded in 1894 in Chicago, Illinois, by Frank Brunell. The paper publishes the past performances of race ...
'', ''
Soap Opera Digest
''Soap Opera Digest'' is a weekly magazine covering American daytime soap operas. It features onscreen and offscreen news about the series, interviews with and articles about performers, storyline summaries and analysis, and related promotional in ...
'', ''
Soap Opera Weekly
''Soap Opera Weekly'' was a weekly magazine covering American daytime soap operas. It featured onscreen and offscreen news about the series, interviews with and articles about performers, storyline summaries and analysis, and related promotional i ...
'', ''
New York
New York most commonly refers to:
* New York City, the most populous city in the United States, located in the state of New York
* New York (state), a state in the northeastern United States
New York may also refer to:
Film and television
* '' ...
'', ''
Seventeen
Seventeen or 17 may refer to:
*17 (number), the natural number following 16 and preceding 18
* one of the years 17 BC, AD 17, 1917, 2017
Literature
Magazines
* ''Seventeen'' (American magazine), an American magazine
* ''Seventeen'' (Japanese m ...
'', ''
Premiere
A première, also spelled premiere, is the debut (first public presentation) of a play, film, dance, or musical composition.
A work will often have many premières: a world première (the first time it is shown anywhere in the world), its first ...
'', ''European Travel & Life'', ''
Automobile
A car or automobile is a motor vehicle with Wheel, wheels. Most definitions of ''cars'' say that they run primarily on roads, Car seat, seat one to eight people, have four wheels, and mainly transport private transport#Personal transport, pe ...
'', and ''New Woman''.
In 1992, it acquired medical publisher Krames from
Grolier
Grolier was one of the largest American publishers of general encyclopedias, including ''The Book of Knowledge'' (1910), ''The New Book of Knowledge'' (1966), ''The New Book of Popular Science'' (1972), ''Encyclopedia Americana'' (1945), ''Acade ...
. It also acquired Films for the Humanities & Sciences.
In 1993, it acquired three magazines from Wiesner. It also acquired
World Almanac
''The World Almanac and Book of Facts'' is a US-published reference work, an almanac conveying information about such subjects as world changes, tragedies, and sports feats. It has been published yearly from 1868 to 1875, and again every year sinc ...
from
E. W. Scripps Company
The E. W. Scripps Company is an American broadcasting company founded in 1878 as a chain of daily newspapers by Edward Willis "E. W." Scripps and his sister, Ellen Browning Scripps. It was also formerly a media conglomerate. The company is he ...
.
In 1994, it acquired ''Stagebill'',
Gibbs College
Katharine Gibbs College was a for-profit institution of higher learning based in the United States of America, founded by Katharine Gibbs.
As the Providence School in Rhode Island, it was founded in 1911 as an institution for the career educati ...
, Haas Publishing, now Consumer Source Inc., publisher of ''Apartment Guide'', and PJS Publications.
In 1995, the company became a
public company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (l ...
via an
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
, selling 15 million shares at $12 per share in a deal that left Kohlberg Kravis Roberts with control of 82.2% of the company's shares. It also acquired the US trade magazine operations of
Maclean-Hunter Maclean-Hunter (M-H) was a Canadian communications company, which had diversification (finance), diversified holdings in radio, television, magazines, newspapers and cable television distribution.
History
The company began in 1887, when brothers J ...
, ''
Chicago
(''City in a Garden''); I Will
, image_map =
, map_caption = Interactive Map of Chicago
, coordinates =
, coordinates_footnotes =
, subdivision_type = Country
, subdivision_name ...
'' from
Landmark Media Enterprises, and McMullen & Yee Publishing, a publisher of automotive magazine.
In 1996, the company acquired 14 publications from
Cahners Consumer Magazines, ''
Pro Football Weekly
''Pro Football Weekly'' (sometimes shortened to ''PFW'') is an American sports magazine, founded in 1967, and website that covers the National Football League (NFL). It was owned by Pro Football Weekly LLC and headquartered in Riverwoods, Illinoi ...
'', and Westcott Communications, later renamed Primedia Workplace Learning.
In 1997, the company acquired Farm Press, Park Avenue Publishing, publisher of ''
Lowrider
A lowrider or low rider is a customized car with a lowered body. These customized vehicles are generally individually painted with intricate, colorful designs, rolling on wire-spoke wheels with whitewall tires. Lowrider rims are generally smalle ...
'', and Intellichoice. It also sold Krames to
Times Mirror
The Times Mirror Company was an American newspaper and print media publisher from 1884 until 2000.
History
It had its roots in the Mirror Printing and Binding House, a commercial printing company founded in 1873, and the ''Los Angeles Times'' ...
, sold ''New Woman'' to
Rodale, Inc.
Rodale, Inc. (), was an American publisher of health and wellness magazines, books, and digital properties headquartered in Emmaus, Pennsylvania, with a satellite office in New York City. The company was founded in 1930. In 2017, it was acquire ...
, and sold Katharine Gibbs to
Career Education Corporation
Perdoceo Education Corporation (PRDO) is a private company that currently owns four for-profit universities, including American Intercontinental University, Colorado Technical University, California Southern University, and Trident University I ...
.
As of November 18, 1997, the company changed its name to Primedia to more clearly focus on its core business.
In 1998, the company acquired Cowles Enthusiast Media and Cowles Business Media divisions of
Cowles Media Company
Cowles Media Company ( ) (1935–1998) was a newspaper, magazine and information publishing company based in Minneapolis, Minnesota in the United States. The company operated Cowles Business Media, Cowles Creative Publishing, and Cowles Enth ...
from
McClatchy Newspapers
The McClatchy Company, commonly referred to as simply McClatchy, is an American publishing company incorporated under Delaware's General Corporation Law and based in Sacramento, California. It operates 29 daily newspapers in fourteen states and ...
. It sold ''Daily Racing Form'' to private investors, sold ''Stagebill'' to Fred B. Tarter, sold Newbridge Communications to
Doubleday Direct
Book of the Month (founded 1926) is a United States subscription-based e-commerce service that offers a selection of five to seven new hardcover books each month to its members. Books are selected and endorsed by a panel of judges, and members c ...
, and acquired
Sterling/MacFadden's teen magazines and teen publisher
Laufer Publishing.
In 1999, the company sold its education unit (''
Weekly Reader
''Weekly Reader'' was a weekly educational classroom magazine designed for children. It began in 1928 as ''My Weekly Reader''. Editions covered curriculum themes in the younger grade levels and news-based, current events and curriculum themed-i ...
'',
World Almanac
''The World Almanac and Book of Facts'' is a US-published reference work, an almanac conveying information about such subjects as world changes, tragedies, and sports feats. It has been published yearly from 1868 to 1875, and again every year sinc ...
) to
Ripplewood Holdings
Ripplewood is an American private equity firm based in New York City that focuses on leveraged buyouts, late stage venture, growth capital, management buyouts, leveraged recapitalizations and other illiquid investments.
Ripplewood was founded ...
, acquired Multimedia Publishing, and sold ''Better Nutrition'', ''Southwest Art'', and ''
Vegetarian Times
''Vegetarian Times'' is an American publication focused on food, culture, health and lifestyle for vegetarians, vegans, and all people interested in plant-based eating. ''Vegetarian Times'' promotes an eco-friendly lifestyle with recipes, and he ...
'' to Sabot Publishing.
In 2000, the company acquired
About.com
Dotdash Meredith (formerly About.com) is an American digital media company based in New York City. The company publishes online articles and videos about various subjects across categories including health, home, food, finance, tech, beauty, ...
for $690 million.
In 2001, the company acquired
EMAP
Ascential plc, formerly EMAP, is a British business-to-business media business specialising in exhibitions & festivals and information services. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
History
Ric ...
's US magazines and closed ''Country Journal''.
In 2002, the company sold ''Modern Bride'' to
Condé Nast Publications
Condé is a French place name and personal name. It is ultimately derived from a Celtic word, "Condate", meaning "confluence" (of two rivers) - from which was derived the Romanised form "Condatum", in use during the Roman period, and thence to t ...
, sold ''Pro Football Weekly'' to Arkush family, sold ''Chicago'' to
Tribune Company
Tribune Media Company, also known as Tribune Company, was an American multimedia conglomerate headquartered in Chicago, Illinois.
Through Tribune Broadcasting, Tribune Media was one of the largest television broadcasting companies, owning 39 ...
, and sold ''American Baby'' to
Meredith Corporation
Meredith Corporation was an American media conglomerate based in Des Moines, Iowa, that owned magazines, television stations, websites, and radio stations. Its publications had a readership of more than 120 million and paid circulation of more ...
.
In 2003, the company sold ''Volleyball'', ''Teddy Bear and Friends'' and ''Doll Reader'' to Ashton International Media, sold ''
Seventeen
Seventeen or 17 may refer to:
*17 (number), the natural number following 16 and preceding 18
* one of the years 17 BC, AD 17, 1917, 2017
Literature
Magazines
* ''Seventeen'' (American magazine), an American magazine
* ''Seventeen'' (Japanese m ...
'' to
Hearst Corporation
Hearst Communications, Inc., often referred to simply as Hearst, is an American multinational mass media and business information conglomerate based in Hearst Tower in Midtown Manhattan, New York City.
Hearst owns newspapers, magazines, televis ...
for $182.4 million, sold ''
New York
New York most commonly refers to:
* New York City, the most populous city in the United States, located in the state of New York
* New York (state), a state in the northeastern United States
New York may also refer to:
Film and television
* '' ...
'' to Bruce Wasserstein for $55 million, sold ''Tiger Beat'' and ''Bop'' to
Laufer Media
Laufer Media is an American magazine publisher, focusing on teen magazines.
History
''Tiger Beat'' was started in 1965 by Charles Laufer, and brought stars such as Donny Osmond to national attention. Laufer started several more teen magazines ...
, sold ''Kitplanes'' to Belvoir Publications, and sold Simba Information to
R.R. Bowker
R. R. Bowker LLC (trading as Bowker) is an American limited liability company domiciled under Delaware Limited Liability Company Law and based in Chatham, New Jersey. Among other things, Bowker provides bibliographic information on publishe ...
.
In 2004, the company sold ''
Folio
The term "folio" (), has three interconnected but distinct meanings in the world of books and printing: first, it is a term for a common method of arranging sheets of paper into book form, folding the sheet only once, and a term for a book ma ...
'' and ''Circulation Management'' to a
joint venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...
with Red 7 Media.
In 2005, the company sold
About.com
Dotdash Meredith (formerly About.com) is an American digital media company based in New York City. The company publishes online articles and videos about various subjects across categories including health, home, food, finance, tech, beauty, ...
to
The New York Times Company
The New York Times Company is an American mass media company that publishes ''The New York Times''. Its headquarters are in Manhattan, New York City.
History
The company was founded by Henry Jarvis Raymond and George Jones in New York City. T ...
for $410 million, sold
Prism Business Media
Penton was an information services and marketing company. The company's three largest revenue streams came from events, digital and marketing services. Although Penton had a long history (see below) as a trade publisher, in 2015 it reported that ...
(ex-Intertec) to private investors
Wasserstein & Co. (later merged with
Penton Media
Penton was an information services and marketing company. The company's three largest revenue streams came from events, digital and marketing services. Although Penton had a long history (see below) as a trade publisher, in 2015 it reported that ...
), and sold
Ward's
Ward's is an American organization that has covered the automotive industry for over 80 years.
The organization is responsible for several publications including, ''Ward's AutoWorld'', and ''Ward's Dealer Business''. Ward's also publish the an ...
to
Prism Business Media
Penton was an information services and marketing company. The company's three largest revenue streams came from events, digital and marketing services. Although Penton had a long history (see below) as a trade publisher, in 2015 it reported that ...
.
In 2006, the company sold history magazines to
Weider History Group
World History Group is a magazine publishing company headquartered in Leesburg, Virginia. It was founded in 2006 as Weider History Group by Eric Weider, the son of fitness entrepreneur Ben Weider (and nephew of Joe Weider) and current President o ...
, sold Crafts Group to Sandler Capital Management for $132 million, and sold
Outdoor Group to
InterMedia Partners
InterMedia Advisors, LLC (a..k.a. InterMedia Partners), is a private equity investment firm focused on leveraged buyout and growth capital investments in the media sector.
The firm, which was founded in 2005 by notable private equity investor Le ...
In 2007, the company sold a group of 17 outdoor-oriented magazines to
InterMedia Outdoors for $170 million in cash, in a deal that included ''
Guns and Ammo'' and ''Fly Fisherman''. It also sold its Enthusiast Media division to
Source Interlink
Source Interlink is an American magazine publishing and logistics company. It owns Source Interlink Distribution and Motor Trend Group. It maintains a strong position in automotive and action sports media, publishing a variety of magazines includ ...
, controlled by
Ronald Burkle
Ronald Wayne Burkle (born November 12, 1952) is an American businessman. He is the co-founder and managing partner of The Yucaipa Companies, LLC, a private investment firm that specializes in U.S. companies in the distribution, logistics, food, ...
, in a deal that netted Primedia $1.15 billion in cash in exchange for a group of more than 70 magazines, including ''
Motor Trend
''MotorTrend'' is an American automobile magazine. It first appeared in September 1949, and designated the first Car of the Year, also in 1949.
Petersen Publishing Company in Los Angeles, California, Los Angeles published ''MotorTrend'' until 19 ...
'' and ''
Soap Opera Digest
''Soap Opera Digest'' is a weekly magazine covering American daytime soap operas. It features onscreen and offscreen news about the series, interviews with and articles about performers, storyline summaries and analysis, and related promotional in ...
'' and 90 consumer web sites. The deal left Primedia to focus on a series of free print and online consumer guides published by its Consumer Source unit. It also sold Gems group to Interweave, sold ''
Climbing
Climbing is the activity of using one's hands, feet, or any other part of the body to ascend a steep topographical object that can range from the world's tallest mountains (e.g. the eight thousanders), to small boulders. Climbing is done fo ...
'' to Skram Media, sold Films for the Humanities & Sciences to
Infobase Publishing
Infobase Publishing is an American publisher of reference book titles and textbooks geared towards the North American library, secondary school, and university-level curriculum markets. Infobase operates a number of prominent imprints, includin ...
, and sold
Channel One News
Channel One News was an American news content provider. The daily news program was accompanied by commercial advertising for marketing in schools, with supplementary educational resources. The Peabody award-winning Channel One News program was ...
to Alloy Media and Marketing.
In 2008, the company sold ''South Florida Auto Guide'' and ''Wisconsin Auto Guide'' to Target Media Partners and closed ''Atlanta Auto Guide''.
In 2009, the company closed ''Today's Custom Home''.
In 2011,
TPG Capital
TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American investment company based in Fort Worth, Texas. The private equity firm is focused on leveraged buyouts and growth capital. TPG manages investment funds in growth c ...
bought Primedia for $525 million.
In 2012, the company acquired
rent.com
Rent.com is an apartment search engine and online marketplace catering to millennials. It is owned by RentPath which is in turn owned by Redfin.
History
Rent.com was founded in 1999 as Viva.com. In December 2004, eBay purchased Rent.com for $415 ...
from
eBay
eBay Inc. ( ) is an American multinational e-commerce company based in San Jose, California, that facilitates consumer-to-consumer and business-to-consumer sales through its website. eBay was founded by Pierre Omidyar in 1995 and became a ...
.
In 2013, the company changed its name to RentPath. In 2014 it acquired Lovely for $13 million.
In 2014,
Providence Equity Partners
Providence Equity Partners L.L.C. is a specialist private equity firm, private equity investment firm focused on media, communications, education, technology investments across North America and Europe. The firm specializes in growth-oriented pri ...
LLC acquired 50% of the company.
In July 2015, former CEO of
Autotrader.com, Chip Perry, was named president and CEO of RentPath. He succeeded Charles Stubbs who remained on the RentPath board of directors.
In November 2015, Chip Perry stepped down as president and CEO of RentPath, to take over as CEO of TrueCar.
RentPath named Marc P. Lefar as President and CEO on April 4, 2016. He was replaced by Dhiren Fonseca in December 2020.
In February 2020, RentPath filed
bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor ...
in preparation for acquisition by CoStar, which reached an agreement to acquire RentPath for $588 million.
On December 29, 2020, new CEO Fonseca terminated RentPath's agreement to be acquired by CoStar.
On April 5, 2021, RentPath was acquired by
Redfin
Redfin Corporation, based in Seattle, operates a residential real estate brokerage in 95 markets in the United States and Canada and in other markets via partner/referral agents. Its business model includes charging home sellers below-average fe ...
for $608 million.
RentPath rental home listings will be integrated into Redfin.com by 2022. RentPath's headquarters remain in Atlanta and Fonseca remains in his role as CEO while the new owners seek a new permanent head.
Former notable titles
Automotive
Equestrian
*Arabian Horse World
*Dressage Today
*
EQUUS
*
Horse & Rider
*
Practical Horseman
Action Sports
References
{{Authority control
Magazine publishing companies of the United States
Private equity portfolio companies
Kohlberg Kravis Roberts companies
Publishing companies established in 1989
Companies that filed for Chapter 11 bankruptcy in 2020
2021 mergers and acquisitions