Dennis Publishing has acquired Kiplinger Washington Editors, Inc., publisher of business forecasts and personal finance advice available in print and online. The terms of the deal were not disclosed.
Kiplinger, founded in 1920 in Washington, D.C. and run by three generations of the Kiplinger family, publishes the largest paid-subscription publications in several financial fields: the weekly Kiplinger Letter, the biweekly Kiplinger Tax Letter, the monthly Kiplinger’s Retirement Report and the monthly Kiplinger’s Investing for Income. Kiplinger’s Personal Finance, its most widely read product, has a 600,000-circulation monthly magazine and was first published in 1947, The Kiplinger.com website has around four million unique visitors and 30 million page views per month.
James Tye, Group CEO of Dennis, said: “Kiplinger is everything we look for in a business: It is blessed with strong brands that have developed a high degree of trust with their readers, allied to a vibrant, growing digital business. Kiplinger is run by an experienced leadership team that understand the value of authoritative and concise information in the finance category as well as the key role the various Kiplinger brands play in delivering excellent results for its advertising clients.”
Tye continued: “Kiplinger is a great fit for Dennis. It expands our presence into the finance category, an area we already have an impressive footprint in with the The Week and MoneyWeek. It is also a business with strong, recurring, subscription revenues; Dennis stands out as a company that is built around brands that readers trust and want to buy. I look forward to working with Denise Elliott and her talented team to keep growing the relevance, reach and revenues of the Kiplinger business.”
Denise Elliott, Senior VP and Chief Operating Officer at Kiplinger, will step up to run Kiplinger as CEO from the company’s Washington DC headquarters and will become part of the Dennis leadership team.
Knight Kiplinger, 71, will remain Chairman of KWE’s former parent, Outlook, Inc., and will serve as an informal advisor to Kiplinger and Dennis on editorial content, with the title of Editor Emeritus. None of Outlook’s real estate holdings in Maryland and Martin County, Fla., are part of the transaction, and will continue to be owned and managed by the Kiplinger family.
Dennis, with its US headquarters in Washington, was acquired by private equity firm Exponent in October 2018. Kiplinger is the first acquisition that Dennis has made in the US since it changed ownership. Dennis already owns The Week based in New York.
UK, London & USA, Washington, DC
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