Penske Media Acquires Artforum Magazine
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Penske Media Corporation said Wednesday that it has acquired Artforum International Magazine, a leading voice in the contemporary art world.
Artforum joins PMC’s constellation of brands (which includes Deadline). Founded in 1962, Artforum has “been at the vanguard of contemporary art criticism, and throughout its history has remained the voice of record for the art world,” PMC notes in its acquisition announcement.
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Publisher Danielle McConnell and Associate Publisher Kate Koza will continue to lead Artforum operations, with Editor David Velasco helming editorial initiatives. Longtime publisher and Artforum shareholder Anthony Korner will remain engaged with the publication in an ambassadorial role.
Artforum will remain editorially independent of other Penske Media brands including existing titles ARTnews and Art in America. Terms of the transaction were not disclosed.
“Artforum’s quality and authority in the art world is unparalleled,” said Jay Penske, chairman and CEO of Penske Media. “Over the last 60 years, they have built a culture- and genre-defining brand known around the world, with one of the few insightful global perspectives on art. I have great admiration for the hard work Tony, Danielle, Kate, and David have done to make Artforum such a success. I look forward to a bright future with this very talented team.”
“Our highest priority is to maintain the continued legacy of our print publication while ensuring a vigorous digital expansion,” said McConnell. “We are thrilled to work alongside Jay Penske, who has understood these objectives from the outset. PMC’s media infrastructure will provide dynamic, amplified opportunities for Artforum’s international community of artists, galleries, museums, and other valued partners.”
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