Time Inc. publishing alum Eric Thorkilsen, backed by private equity fund TZP Growth Partners, has acquired "This Old House" and its related properties from Time Inc.
The home improvement standard, running on TV since 1979, along with digital properties, a magazine, and other associated media properties, will operate under This Old House Ventures LLC.
Financial terms of the deal were not released.
Thorkilsen, a circulation and publishing chief at Time Inc over 30 years, will serve as CEO of the new venture. He said he's been a "champion" of This Old House "for the better part of three decades and it is an honor to be able to rejoin this extraordinary franchise and bring it to a new generation of fans."
Thisoldhouse.com draws about 5.5M monthly unique visitors, while its magazine claims nearly one million subscribers. Along with the flagship TV show on PBS, the group also includes a companion show, "Ask This Old House."
The TV shows are readying their 37th and 15th seasons, respecitively. Susan Wyland, a former Hearst editor and managing editor for Real Simple, has been named editor-in-chief of This Old House magazine.
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
Have a comment? Send it to 
No comments have been submitted for this story yet.