U.K. media company Dennis Publishing has acquired Kiplinger, publisher of personal finance magazine Kiplinger’s Personal Finance.
Terms of the deal weren’t publicly disclosed.
Washington-based Kiplinger was founded by W. M. Kiplinger in 1920 and has been run by three generations of the Kiplinger family since.
 |
Kiplinger’s Personal Finance, which has been continuously published since 1947, has a monthly circulation of more than 600,000. In addition to that title, Kiplinger also publishes the Kiplinger Letter, a weekly business forecasting periodical, biweekly tax advisory newsletter Kiplinger Tax Letter, retirement living monthly Kiplinger's Retirement Report and monthly newsletter Investing for Income.
Total paid circulation of Kiplinger publications is reported at 900,000. Its website, kiplinger.com, sees four million unique visitors and more than 30 million page views every month.
Dennis Group CEO James Tye in a statement said “Kiplinger is everything we look for in a business: It is blessed with strong brands that have developed a high degree of trust with their readers, allied to a vibrant, growing digital business. Kiplinger is run by an experienced leadership team that understand the value of authoritative and concise information in the finance category as well as the key role the various Kiplinger brands play in delivering excellent results for its advertising clients.”
Kiplinger editor-in-chief Knight Kiplinger, who succeeded his father, Austin H. Kiplinger, now holds the title of editor emeritus and will serve as an informal advisor to Kiplinger and Dennis on editorial content. Magazine-media news site Folio reported that no further staff changes would occur at this time.
London-based Dennis, which was founded in 1974, manages a portfolio of more than 30 brands, including flagship title The Week, which is published in both the U.S. and U.K.
The consumer magazine publisher previously owned lifestyle titles such as men’s magazine Maxim, music magazine Blender and consumer electronics magazine Stuff, which were sold in 2007 to private equity firm Quadrangle Group. Stuff was later sold to Kelsey Media. Maxim is now published by Biglari Holdings.
Dennis was sold in October to U.K.-based private equity firm Exponent. Dennis reported in today’s statement that this marks the first acquisition the international media group has made in the U.S. since it changed ownership.
Berkery Noyes represented Kiplinger in the transaction.
WNET, the nation’s largest public media company, names Edward O’Keefe its next president and CEO, effective September 21. O’Keefe succeeds Neal Shapiro, who becomes president emeritus and will retire at the end of the year... The Stealth Bot Prohibition Act, which would empower news publishers and other content providers to defend themselves by mandating transparency for all bots crawling their sites, in introduced in the House by Rep. Laurel Lee (R-FL) and Rep. Valerie Foushee (D-NC)... Google gets socked by European Union regulators with a $1 billion fine for using the platform’s dominance as a search engine to illegally undercut competition.
Boston Globe Media acquires InstaTrac, a company that provides subscription-based services aimed at making government information easier to find, track, and understand... AARP names former New Republic CEO and publisher Michael Caruso as its SVP and chief content officer, unifying the organization's portfolio of media, live events and digital platforms... The Fund for American Studies, an educational nonprofit, awards its inaugural Journalism Excellence Fellowships.
Trump Media and Technology Group Corp. has replaced CEO and former California Congressman Devin Nunes with Kevin McGurn, a seasoned media sales executive.
The Pittsburgh Post-Gazette is being bought by the Venetoulis Institute for Local Journalism, a nonprofit that is the parent organization of the Baltimore Banner... The British Broadcasting Corporation is axing approximately 2,000 jobs, about 10 percent of its work force... Snap, the company behind Snapchat, is also succumbing to layoff fever, announcing plans to lay off 16 percent of its employees, about 1,000 people.
CBS News Radio will go off the air on May 22, part of the axe-swinging managerial plan put into play by CBS editor-in-chief Bari Weiss... The Economist, which was first published in 1843, is changing hands. Canadian billionaire Stephen Smith has agreed to acquire a 26.9 percent stake in the publication from Lady Lynn Forester de Rothschild, her family and family foundation... Nexstar Media Group says it has closed its acquisition of TEGNA, the broadcast, digital media and marketing services company that was formed in 2015, when the Gannett Company split into two publicly traded companies.
