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| Advance | |
| Company type | Private |
| Industry | Mass media |
| Founded | May 12, 1924; 101 years ago (1924-05-12) |
| Founder | Samuel Irving Newhouse Sr. |
| Headquarters | One World Trade Center,New York City, U.S. |
Number of locations | 102 |
Area served | Worldwide |
Key people |
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| Products | Newspapers, news and information websites,magazines,television |
| Revenue |  US$2.4 billion (2016) |
| Owner | Newhouse family |
Number of employees | 12,000 |
| Subsidiaries |
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| Website | www |
| Footnotes / references [3] | |
Advance Publications, Inc. is aprivately held American media company owned by the families ofDonald Newhouse andSamuel Irving Newhouse Jr., the sons of company founderSamuel Irving Newhouse Sr. It owns publishing-related companies includingAmerican City Business Journals,MLive Media Group, andCondé Nast, and is a major shareholder inCharter Communications (13% ownership),Reddit (30% ownership), andWarner Bros. Discovery (3.97% ownership).
The company is named after theStaten Island Advance, the first newspaper owned by the Newhouse family, in which Sam Newhouse bought a controlling interest in 1922.[4]
On August 25, 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 inCharter Communications Holdings, LLC.[5] 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.[6]
In March 2020, the company acquired The Ironman Group, a mass participation sports platform including theIronman Triathlons andAbsa Cape Epic mountain bike race, from theWanda Sports Group.[7]
For most of its history, Advance had no official headquarters; most publications listed theAdvance offices in Staten Island'sGrasmere neighborhood as its nominal headquarters.[4]
While it did not have a corporate headquarters, Advance operated a press bureau in Washington, D.C.—the Newhouse News Service (NNS). Opened in 1961, NNS served as a national news bureau for all Advance portfolio publications until it closed in late 2008 as a cost-cutting measure due to the2008 financial crisis.[8]
As of November 2019,[update] Advance was ranked as the 221st largestprivately held company in the United States, according toForbes.[9]
As of August 2021,[update] the group ownsCondé Nast (which includes the magazinesVogue,The New Yorker, andWired), The Ironman Group,Turnitin, Advance Local,American City Business Journals,Stage Entertainment, Leaders Group, and theSeattle-based digital agency Pop, Inc., and is a large shareholder inReddit.[10][11]
The company holds an 3.97% ownership in media conglomerateWarner Bros. Discovery,[12] carried over from its 31% stake in predecessorDiscovery, Inc.[13] Advance also owns a 13% stake (as of 2016) inCharter Communications, which it received whenBright House Networks merged with Charter.[14][15]
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