Penske Media Acquires Leading Art Publications: ARTnews & Art in America

Penske Media Corporation (PMC) announced its acquisition of ARTnews and Art in America as part of the overall acquisition of Art Media Holdings, LLC, the largest independent art publishing group that also includes The Magazine ANTIQUES and MODERN Magazine. ARTnews, founded in 1902 and winner of over 40 major journalism awards. Art in America, since its founding in 1913 has been the compelling voice of criticism and dialogue in the art community. "For more than a century ARTnews and Art in America have been leaders in breaking news and commentary on the art world. To welcome these fine publications, whose editorial heritage I have long admired, is not only a remarkable opportunity but also a great honor," said PMC Chairman and CEO Jay Penske. "This purchase continues PMC's strategy of investing in businesses with great vertical depth, and we plan to rapidly build upon their editorial foundation while extending their presence across the web, video, and international markets." Penske Media, founded in 2004, is a leading digital media company committed to investing in legacy media brands and evolving their strategies for today's competitive digital media landscape. With significant experience across its 16 industry-leading trade and consumer brands that include Rolling Stone, Variety, WWD, Robb Report, Deadline, SheMedia, Beauty Inc, FN, IndieWire, HollywoodLife, BGR, and other leading brands, PMC's digital media expertise and complementary portfolio will be key advantages in propelling these newly acquired publications to significant progress, profitability and long-term sustainability and growth.