|Founder||Samuel Irving Newhouse Sr.|
|Headquarters||Grasmere, Staten Island, |
Number of locations
|Products||Newspapers, News & Information Websites, Magazines, Television|
|Revenue||US$2.4 billion (2016)|
Number of employees
American City Business Journals
|Footnotes / references|
Advance Publications, Inc. is an American media company owned by the descendants of S.I. Newhouse Sr., Donald Newhouse and S.I. Newhouse Jr. It is named after the Staten Island Advance, the first newspaper owned by the Newhouse family, in which Sam Newhouse bought a controlling interest in 1922. The company is nominally headquartered in the Advance offices in Staten Island's Grasmere neighborhood, though Advance has never had an official headquarters.
As of November 2019, it was ranked as the 221st largest privately held company in the United States, according to Forbes.Crain's ranked Advance Publications the 4th largest private company in the New York area in 2012.
In addition to holding publishing and communication assets, Advance serves as the holding company for the family's 31% stake in cable entertainment company Discovery, Inc. Advance also owns a 13% stake in Charter Communications, which it received when Bright House Networks merged with Charter. In August 2018, Advance/Newhouse ("A/N") notified Charter Communications that it intends 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.
Directly and through various subsidiaries, the group owns Discovery Channel, Condé Nast, the popular digital news website Wired, Lycos, Angelfire, Tripod, and is the majority shareholder in Reddit.