Who Owns the Media: Advance Publications

Advance Publications 🐔

Capitulation Rank: Vulnerable
Category: Newspaper & Publishing 
Market Cap: Privately held

Until his death in 2017, S.I. Newhouse headed the media conglomerate that controls Condé Nast, the publisher of more than two dozen magazines including The New Yorker, Vanity Fair and Vogue, as well as a number of newspapers around the country.

In 1987, Newhouse greenlit The Art of the Deal, the ghost-written Trump book that falsely portrayed the bankruptcy-prone real-estate developer as a brilliant business mind. Newhouse knew it was all make-believe but he published the book nonetheless, helping create the myth that paved Trump’s path to the White House. Today Newhouse’s grandson, Steven Newhouse, runs the family-owned company alongside Donald Newhouse. While Steven describes himself as “a friend” of the president, he largely remains out of politics.

Advance, also holds a sizable stake in Charter Communications and Warner Bros. Discovery, and would benefit greatly should the Trump administration bless these companies’ merger ambitions (Charter’s recently proposed Cox deal would generate a considerable windfall for the company’s shareholders).

DEI Doublespeak:

There is no mention of DEI on Advance Publications’ website. However, several companies in its portfolio, including Condé Nast, seem to be upholding prior commitments to diversity, equity and inclusion. The Condé Nast site includes the statement: “We value diversity of backgrounds, views and cultures, and believe in providing equal opportunity and treatment for everyone. We value people for their unique qualities, skills and contributions. We understand that inclusive teams drive more innovation, and the greater the variety of viewpoints, the greater the chances for success.”

What It Owns:

Advance owns newspaper outlets across dozens of U.S. markets. It also owns Condé Nast, which controls numerous magazine publications (in addition to the ones noted above, the Condé Nast portfolio includes Allure, Architectural Digest, Bon Appétit, Condé Nast Traveler, GQ and Wired). In addition to the corresponding websites for these publications, Advance owns a number of online-only outlets (including AL.com, Ars Technica, Cleveland.com, Epicurious, Glamour, NJ.com, OregonLive.com, Pitchfork  and Teen Vogue). Advance also retains a minority stake (30 percent) in Reddit and owns production studios (including Holiday on Ice Productions and Stage Entertainment). Advance also owns a minority stake (8 percent) in Warner Bros. Discovery.