Penske Media Corporation has announced its acquisition of Art Market Monitor, eight months after PMC bought ARTnews and Art in America.
In an email announcement Friday to PMC staff, Jay Penske said, “I’m excited to share with you that PMC is acquiring Art Market Monitor, the leading authority on art market analysis, pricing, and trends. Art Market Monitor has an intensive readership within the gallery, auction house, legal, banking and asset management communities. The addition of Art Market Monitor to our previous acquisitions of ARTnews and Art in America further expands our investment in the category.”
“In the art world, where a significantly fragmented audience spans so many websites, newsletters, and brands — PMC sees the opportunity to augment these exceptional brands with further investments in content and editorial, complimented by robust data and analytic tools, and growing an engaging live media and event business,” Penske added. “This acquisition adds a strong subscription business that expands PMC’s reach and influence in the art vertical.”
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As part of the acquisition, Art Market Monitor’s principal Marion Maneker will join PMC’s Art Media Holdings business as editorial director, where he will be working closely with ArtNews and Art In America properties to continue to grow and expand PMC’s presence in the art business.
“Featured often on NPR and CNBC as a leading expert on the art market, Marion has over 20 years of editorial and publishing experience with leading publications such as Simon and Schuster, HarperCollins, New York Magazine, The New York Sun, and Slate Magazine,” Penske said. “We are pleased to have Marion join our talented team at Art Media Holdings and look forward to his valued contributions to building our art media business.”
Penske also disclosed that Victoria Hopper, president and CEO of AMH, will be leaving to pursue other opportunities. He added, “I would like to thank Victoria for everything she has done over the last five years to lead Art Media Holdings and we wish her the best in her future endeavors.”
Penske Media, founded in 2004, is the owner of trade and consumer brands that include Rolling Stone, Variety, WWD, Robb Report, Deadline, SheMedia, Beauty Inc, FN, IndieWire, HollywoodLife, and BGR.