Penske Media Corporation (PMC) has acquired Artforum International Magazine, a contemporary art publication celebrating its 60th anniversary, the company announced on Wednesday. Terms were not disclosed.
Artforum will remain editorially independent of other Penske brands, including ARTnews and Art in America.
Among the plans is work on the digital front.
“Our highest priority is to maintain the continued legacy of our print publication while ensuring a vigorous digital expansion,” states Publisher Danielle McConnell.
“Since 2020, we have expanded Artforum’s digital footprint in ways that complement and enliven the mission of the print magazine, and we are excited to foster further growth across our platforms,” adds Associate Publisher Kate Koza.
McConnell and Koza will continue to lead Artforum operations, and David Velasco will remain as editor. Longtime publisher and Artforum shareholder Anthony Korner will remain engaged in an ambassadorial role, Penske says.
MCConnell adds that the new owner’s “media infrastructure will provide dynamic, amplified opportunities for Artforum’s international community of artists, galleries, museums, and other valued partners.”
Penske owns such publishing brands as Variety, Rolling Stone, The Hollywood Reporter, Billboard, WWD, SHE Media, Robb Report, Deadline, Sportico, BGR, ARTnews, Fairchild Media, Vibe, IndieWire, Dirt, Gold Derby, and Spy.com