Dennis Publishing, an international media group and publisher of The Week in the US and the UK, has acquired Kiplinger Washington Editors, Inc., a market leader in business and personal finance information, in print and online.
The amount of the deal was not disclosed.
The acquistion enables Dennis to expand its US portfolio.
Founded in 1920 in Washington, D.C. Kiplinger publishes 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 month.
One of the most dynamic media organizations operating in the US and UK markets, Dennis operates a portfolio of over 30 brands currently operating 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.
Led by James Tye, Group CEO, 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 current affairs website TheWeek.com.
The company was acquired by private equity firm Exponent in October 2018.
Following the deal, 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.
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.