Dennis Publishing, publisher of The Week, has acquired Kiplinger Washington Editors, Inc., which owns finance publications like the monthly Kiplinger’s Personal Finance.
It is the first acquisition made by Dennis in the U.S. since it was acquired by UK-based private-equity firm Exponent in October 2018.
“We see a significant opportunity to continue to grow our business through expanding our reach and reputation globally,” stated Jack Griffin, Dennis chairman. “The Kiplinger acquisition marks the beginning of our focus on expansion through launch and acquisition in the U.S.”
Dennis owns over 30 brands in the U.S. and U.K., reaching over 50 million unique users and selling more than 2.5 million magazines every month, according to the company. The Week, a news magazine based in New York, has more than 550,000 print subscribers and 5.8 million monthly unique users to its website.
Buying Kiplinger “expands our presence into the finance category, an area we already have an impressive footprint in with the The Week and MoneyWeek,” stated James Tye, Group CEO, Dennis.
“It is also a business with strong, recurring, subscription revenues.”
Kiplinger publishes Kiplinger Letter, Kiplinger Tax Letter, Kiplinger’s Retirement Report and Kiplinger’s Investing for Income.
Kiplinger’s Personal Finance has a 600,000 circulation, and Kiplinger.com has 4 million unique visitors and over 30 million monthly page views, according to the company.
Founded in 1920 in Washington, D.C., Kiplinger has been run by three generations of the Kiplinger family.
Denise Elliott, senior vice president-COO, Kiplinger, will now become Kiplinger’s CEO and part of the Dennis leadership team.
Knight Kiplinger will remain chairman of Kiplinger’s former parent, Outlook, Inc., as well as serve as editor emeritus and advise on editorial.
Outlook’s real estate holdings in Maryland and Florida will continue to be owned and managed by the Kiplinger family.
Separately, Bauer Media Group has acquired CrediMarket, a Spanish ecommerce platform for financial products. This acquisition is Bauer’s first move into the Spanish OCP (Online Comparison Platform) market.
Bauer Media Group owns OCPs in Finland, Norway and Sweden (Zmarta), the Czech Republic, Slovakia (NetBrokers Holding) and Poland (Rankomat).
“Our goal is to further strengthen our position and ultimately become a market leader wherever we operate. The acquisition of CrediMarket is an excellent opportunity to expand our footprint,” stated Björn Lander, global business area head for OCP at Bauer Media Group.
Last year, the U.S. arm of the German-based Bauer Media Group sold its 13 celebrity and teen titles to American Media Inc.