Penske Media Corporation (PMC) has acquired the 60-year-old Artforum international magazine, the claimed voice of record for the art world. The deal – for an undisclosed price – gives PMC its third art publication after ARTnews and Art in America.
The 18-year-old, $1bn-revenue, privately-owned Penske Media has been an active acquirer of established media brands including: Variety, Rolling Stone, The Hollywood Reporter, Billboard, WWD, SHE Media, Robb Report, Deadline, Sportico, BGR, ARTnews, Vibe, IndieWire, Dirt, Gold Derby and Spy.com, It also owns major cultural events such as SXSW, LA3C, and Life is Beautiful.
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