Dennis Publishing, which publishes The Week, has acquired longtime family-run company, Kiplinger Washington Editors, Inc. Kiplinger, which was founded in 1920 and is based in D.C., offers financial news covering taxes, retirement and investments.
Financial terms of the agreement were not made available.
Kiplinger’s Personal Finance, a magazine that boasts a monthly circulation of 6000,000, will be added to Dennis’ portfolio of more than 30 magazine and online brands covering current affairs, technology and lifestyle. Dennis, which owns The Week, claims its portfolio of brands reach over 50 million unique visitors per month.
“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,” said James Tye, Group CEO of Dennis, in a statement.
Knight Kiplinger, 71, will stay on as chairman of Kiplinger Washington Editors, Inc.’s former parent company, Outlook, Inc., and as editor emeritus of Kiplinger, which is an informal advising role on editorial content. The real estate properties held by Outlook, Inc. aren’t part of the deal with Dennis.
Denise Elliott, senior vp and COO at Kiplinger, will become CEO of the company.
“Dennis will be an excellent custodian of not just the Kiplinger business, but of our editorial integrity and focus on strong reader service,” Kiplinger said in a statement.