×

Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.

Advance buys American City publications

Published on .

Robert Newhouse's Advance Publications beat out one other bidder to reach an agreement to acquire American City Business Journals for $268.9 million. American City owns a network of 28 weekly business publications with combined circulation of 330,000, plus three motorsports magazines and a national ad rep company. American City had net income of $5.3 million on revenue of $97.7 million last year. Advance Publications is one of the largest privately held media empires in the world, with magazines including Vogue, Vanity Fair and Glamour, as well as 22 daily newspapers. The deal is expected to close in October. Ray Shaw, the former Dow Jones & Co. president who spearheaded a takeover of American City in 1989, will remain chairman-CEO.

Most Popular
In this article: