Penske Media Corporation said on Wednesday that it has acquired Artforum international magazine, a leading publication in the contemporary art world.
art forumcelebrating its 60th anniversary this year, will join PMC’s portfolio of brands, including Hollywood Reporter.
Publisher Danielle McConnell and affiliated publisher Kate Koza will continue to lead art forum active, with editor David Velasco leading the editorial initiatives. Longtime publisher and art forum shareholder Anthony Korner will continue to work with the publication as an ambassador.
art forum, based in New York, will remain editorially independent of Penske Media’s other brands, including existing titles ARTnews and Art in America. Terms of the transaction were not attached.
“art forum The quality and authority in the art world is unmatched, said Jay Penske, President and CEO of Penske Media. “Over the past 60 years, they have built a brand that defines the culture and genre known around the world, with one of the few profoundly global views on art. I absolutely admire the hard work Tony, Danielle, Kate and David did to create art forum such a success. I look forward to a bright future with this very talented team.”
PMC also owns Variety, Rolling Stone, Billboard, WWD, SHE Media, Robb Report, Deadline, Sportico, BGR, ARTnews, Fairchild Media, Vibe, IndieWire, Dirt, Gold Derby and Spy.com, among others.
“Our highest priority is to maintain the continued legacy of our print publication while ensuring a strong digital expansion,” said McConnell. “We are delighted to be working with Jay Penske, who has clearly understood these goals from the start. PMC’s communications infrastructure will provide dynamic, amplifying opportunities for art forum international community of artists, galleries, museums and other valued partners.”
Korner added: “I am proud to be a part of art forum impressive development as the leading voice and record of contemporary art during my time as a publisher. Like art forum look at its next chapter, we found a strong manager Jay Penske and PMC. PMC commits art forum mission and investment in ensuring the journal continues to maintain the highest editorial standards in the industry.”
Velasco and Koza also welcome the new partnership.
“I look forward to continuing our work with the outstanding writers, artists and editors who have made this magazine the standard for generations,” said Velasco. “I am confident that PMC is the right partner for Artforum as We are strengthening our commitment to our community and building new ways to communicate our mission across multiple media.”
Koza says: “The unparalleled talent of our staff and writers underpinned art forum reputation as the standard-bearer of contemporary art criticism over the years. Since 2020, we have expanded art forum digital footprint in ways that complement and liven up the mission of the print magazine, and we’re excited to drive further growth across our platforms. We’ve found a strong partner in PMC who has the resources to support our team’s creativity and vision and help us make it happen. art forum future legacy.”
PMC also owns a number of cultural events such as SXSW, LA3C and Life is Beautiful. Headquartered in New York and Los Angeles, with additional offices in 14 countries worldwide, PMC’s philosophy is that companies should not only make profits, but also aim for good.
