– Dynamic media company expands its US portfolio with acquisition of
market-leading financial publishing business
WASHINGTON–(BUSINESS WIRE)–Dennis Publishing (Dennis), the leading international media group and
publisher of The Week in the US and the UK, today announces that
it has acquired Kiplinger Washington Editors, Inc. (Kiplinger), a market
leader in business and personal finance information, in print and online.
Kiplinger, founded in 1920 in Washington, D.C. and run by three
generations of the Kiplinger family, publishes the largest
paid-subscription publications in several financial fields: business
forecasting (the weekly Kiplinger Letter); taxes (the biweekly Kiplinger
Tax Letter); retirement living (the monthly Kiplinger’s
Retirement Report) and yield-oriented investing (the monthly Kiplinger’s
Investing for Income).
Its most widely read products are Kiplinger’s Personal Finance,
the 600,000-circulation monthly magazine which pioneered personal
finance journalism in 1947, and Kiplinger.com, its website with
four million unique visitors and more than 30 million page views per
Dennis is one of the most dynamic media organisations operating in the
US and UK markets. Its portfolio of over 30 brands currently operates in
four areas of excellence: Current Affairs, Technology, Automotive and
Lifestyle, reaching over 50 million unique users and selling over 2.5
million magazines every month.
James Tye, Group CEO of Dennis, said: “Kiplinger is everything we look
for in a business: It is blessed with strong brands that have developed
a high degree of trust with their readers, allied to a vibrant, growing
digital business. Kiplinger is run by an experienced leadership
team that understand the value of authoritative and concise information
in the finance category as well as the key role the various Kiplinger
brands play in delivering excellent results for its advertising clients.”
Dennis currently owns The Week based in New York, which boasts
over 550,000 paid-for print subscribers and 5.8 million monthly unique
users to its award-winning current affairs website TheWeek.com. The
Week is renowned for both its concise style and the unique balance
it brings to an increasingly fragmented and divided news landscape.
Dennis was acquired by one of the UK’s leading Private Equity firms,
Exponent, in October 2018. Washington-based Kiplinger is the first
acquisition that Dennis has made in the US since it changed ownership.
Tye continued: “Kiplinger is a great fit for Dennis. It expands our
presence into the finance category, an area we already have an
impressive footprint in with the The Week and MoneyWeek. It
is also a business with strong, recurring, subscription revenues; Dennis
stands out as a company that is built around brands that readers trust
and want to buy. I look forward to working with Denise Elliott and her
talented team to keep growing the relevance, reach and revenues of the
Denise Elliott, Senior VP and Chief Operating Officer at Kiplinger, will
step up to run Kiplinger as CEO from the company’s Washington DC
headquarters and will become part of the Dennis Leadership Team.
Jack Griffin, Chairman of Dennis, said: “Dennis has deep expertise in
developing and growing well-loved media brands, both in print and
online. We see a significant opportunity to continue to grow our
business through expanding our reach and reputation globally.
The Kiplinger acquisition marks the beginning of our focus on expansion
through launch and acquisition in the US, one of the largest and most
exciting media markets in the world.”
Knight Kiplinger, 71, will remain Chairman of KWE’s former parent,
Outlook, Inc., and will serve as an informal advisor to Kiplinger
and Dennis on editorial content, with the title of Editor Emeritus. None
of Outlook’s substantial real estate holdings in Maryland and Martin
County, Fla., are part of the transaction, and will continue to be owned
and managed by the Kiplinger family.
Knight Kiplinger, formerly Kiplinger’s Chairman and Editor in Chief,
said “Dennis will be an excellent custodian of not just the Kiplinger
business, but of our editorial integrity and focus on strong reader
Kiplinger was represented in the transaction by Berkery Noyes & Co in
New York, and assisted by the Washington law office of Venable. Dennis
was legally represented by Travers Smith in London and Choate, Hall &
Stewart in Boston, and assisted by Oaklins DeSilva & Phillips in New
About Dennis Publishing Group
Dennis Publishing Group (Dennis) comprises Dennis Publishing Ltd in the
UK and The Week Publications Inc. in the US.
Dennis is one of the most dynamic media organisations, operating in the
UK and US markets. Its portfolio of over 30 brands, operates in four
areas of excellence: Current Affairs, Technology, Automotive and
Lifestyle, reaching over 50 million unique users and selling over
2.5million magazines every month. Dennis has transformed its approach
from its traditional print publishing roots to a multi-platform
publishing and ecommerce business spanning both the UK and US, with a
group turnover of over £190m.
Dennis brands include The Week, Money Week, Auto Express,
Expertreviews.co.uk, BuyACar.co.uk, Cyclist and Viz.
Dennis holds the title of AOP Digital Publishing Company of the Year,
2016 & 2018, and British Media Awards Media Company of the Year 2016 &
2018. For more information, go to Dennis.co.uk.
The Week was launched in 2001 and is based in New York. It boasts over
550,000 paid-for print subscribers and 5.8m monthly unique users to its
award winning current affairs website TheWeek.com.
Kiplinger was founded in 1920 by a former Associated Press economics
reporter, W. M. Kiplinger (1891-1967), whose tersely written Kiplinger
Washington Letter (launched in 1923) and Kiplinger Tax Letter
(1925) became the prototypes for modern newsletter journalism and the
most widely read newsletters in the world.
In 1947 W. M. Kiplinger and his son, Austin H. Kiplinger (1918-2015),
launched Kiplinger Magazine, the first magazine to give its
readers advice on their personal finances. Under the leadership of
Knight Kiplinger, the company expanded into video, audio and online
information in the 1990s, also launching new periodicals on retirement
living and income investing.
In 2007, Kiplinger was named one of “America’s “Most Ethical Companies”
by Ethisphere magazine, and Kiplinger’s Personal Finance
won the 2009 General Excellence Award in the large-magazine category,
from the Society of American Business Writers and Editors (SABEW). It
has won or been a finalist for numerous online content honors, including MIN’s
Best of the Web, EPPY and Webby awards.
Established in 2004, Exponent is one of the UK’s leading private equity
firms, investing in companies with enterprise values between £100m and
£400m. The company seeks to identify untapped potential and navigate
complexity to unlock growth for its portfolio companies and investors.
Its current and former investments in consumer media and publishing
businesses include the Times Educational Supplement, Immediate Media and
the Racing Post. A selection of Exponent’s other investments include
Quorn Foods, Photobox Group, Loch Lomond Whisky, Big Bus Tours, the
Ambassador Theatre Group and Trainline.
For Dennis UK press enquiries, contact [email protected];
+44(0)7968 531 473
For Dennis/The Week US press enquiries, contact
Alissa Neil PR, [email protected];
Press contact for Kiplinger: The Rosen Group [Lori
Rosen, [email protected]]