Advance Publications, Inc., branded as Advance, is an American media company owned by the descendants of S.I. Newhouse Sr., Donald Newhouse and S.I. Newhouse Jr. It owns a large number of subsidiary companies, including Condé Nast, and is a major shareholder in Reddit.
|Founder||Samuel Irving Newhouse Sr.|
|Headquarters||One World Trade Center, |
Number of locations
Gordon Matthew Thomas Sumner (Sting)
|Products||Newspapers, News & Information Websites, Magazines, Television|
|Revenue||US$2.4 billion (2016)|
Number of employees
American City Business Journals
|Footnotes / references|
In August 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 in Charter Communications Holdings, LLC. 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.
For most of its history, Advance did not have an official headquarters; most publications listed the Advance offices in Staten Island's Grasmere neighborhood as its nominal headquarters. More recently, it has claimed offices at One World Trade Center in Manhattan as its corporate headquarters.
In addition to holding publishing and communication assets, Advance serves as the holding company for the family's 31% stake (as of 2010) in cable entertainment company Discovery, Inc. Advance also owns a 13% stake (as of 2016) in Charter Communications, which it received when Bright House Networks merged with Charter.
As of August 2021[update], the group owns Condé Nast (which includes the magazines Vogue, The New Yorker and Wired), 1010data, Turnitin, The Ironman Group, Advance Local, ACBJ, Stage Entertainment, Leaders Group and Pop (Made in Seattle), and is a major shareholder in Reddit, in addition to the aforementioned stakes in Charter and Discovery.