Penske Media Acquires Artforum – Artforum Worldwide
December 7, 2022, New York, NY: At this time, Penske Media Company (PMC) introduced the acquisition of Artforum Worldwide Journal, a number one voice within the modern artwork world. Artforum will be part of PMC’s constellation of manufacturers because it celebrates its sixtieth anniversary yr. Since its founding in 1962, Artforum has been on the vanguard of up to date artwork criticism, and all through its historical past has remained the voice of document for the artwork world.
Writer Danielle McConnell and Affiliate Writer Kate Koza will proceed to guide Artforum operations, with Editor David Velasco helming editorial initiatives. Longtime writer and Artforum shareholder, Anthony Korner, will stay engaged with the publication in an ambassadorial function. Artforum will stay editorially impartial of different Penske Media manufacturers, together with present titles ARTnews and Artwork in America. Phrases of the transaction weren’t disclosed.
“Artforum’s high quality and authority within the artwork world is unparalleled,” stated Chairman and CEO of Penske Media, Jay Penske. “Over the final 60 years, they’ve constructed a culture- and genre-defining model identified world wide, with one of many few insightful international views on artwork. I’ve nice admiration for the arduous work Tony, Danielle, Kate, and David have finished to make Artforum so successful. I sit up for a vivid future with this very proficient crew.”
“Our highest precedence is to keep up the continued legacy of our print publication whereas making certain a vigorous digital enlargement,” stated McConnell. We’re thrilled to work alongside Jay Penske, who has understood these targets from the outset. PMC’s media infrastructure will present dynamic, amplified alternatives for Artforum’s worldwide group of artists, galleries, museums, and different valued companions.”
“I’m proud to have been a part of Artforum’s spectacular evolution because the main voice and document of up to date artwork throughout my time as writer,” stated Korner. “As Artforum appears to be like to its subsequent chapter, we’ve got discovered a robust steward in Jay Penske and PMC. PMC is dedicated to Artforum’s mission and invested in making certain the journal continues to uphold the very best editorial requirements in the trade.”
“I sit up for persevering with our work with the sensible writers, artists, and editors who’ve made this journal a touchstone for generations,” stated Velasco. “I’m assured that PMC is the proper companion for Artforum as we deepen our dedication to our group and construct new methods to speak our mission throughout quite a lot of media.”
“The unparalleled abilities of our employees and writers have solidified Artforum’s repute because the standard-bearer of up to date artwork criticism over time,” stated Koza. “Since 2020, we’ve got expanded Artforum’s digital footprint in ways in which complement and enliven the mission of the print journal, and we’re excited to foster additional development throughout our platforms. We have now discovered a robust companion in PMC, whose sources will help our crew’s creativity and imaginative and prescient and assist us carry Artforum’s legacy into the long run.”
Greenhill & Co. served as monetary advisor and Vedder Value served as authorized counsel to Artforum.
Penske Media Company (PMC) is a number one international media and data companies firm whose award-winning content material attracts a passionate viewers. Since 2004, PMC has been a pioneer in digital media and a platform innovator, reaching viewers on all screens throughout its ever-growing constellation of iconic manufacturers, which embrace Selection, Rolling Stone, The Hollywood Reporter, Billboard, WWD, SHE Media, Robb Report, Deadline, Sportico, BGR, ARTnews, Fairchild Media, Vibe, IndieWire, Filth, Gold Derby, and Spy.com, amongst many others. PMC’s journalists and content material creators ship each day the most complete information and knowledge of their industries and areas of protection, unequaled in ambition, depth, and braveness. As well as, PMC owns a number of important cultural occasions similar to SXSW, LA3C, and Life is Stunning. Headquartered in New York and Los Angeles, with extra workplaces in 14 international locations worldwide, PMC believes corporations shouldn’t solely be worthwhile however additionally forces for good.
Artforum is the journal of document for the modern artwork trade and holds the distinctive roles of establishment, nexus, and foremost tastemaker of the artwork world. It delivers the very best degree of vital discourse about modern visible tradition to a various worldwide viewers and is commonly the primary to determine artists whose work involves outline eras. Launched in California in 1962, Artforum moved to New York in 1967, the place it’s nonetheless primarily based.