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.