The future of Kiplinger’s under new ownership
Aaron Gregg of The Washington Post writes about potential changes at Kiplinger’s Personal Finance now that it has been sold to the owners of The Week.
Gregg writes, “Kiplinger said he thought the private-equity firm has legitimate plans to expand its U.S. footprint. He said there had been no mention of buyouts or layoffs at Kiplinger’s.
“‘Private equity in the U.S. has a deservedly bad reputation, but that is not universal,’ he said.
“‘I think private equity in the [United Kingdom] has a better reputation for investing in the [print media] business rather than stripping and looting and dismembering and all that sort of thing,’ he said.
“Dennis Publishing Chairman Jack Griffin described Kiplinger’s as ‘a highly trusted brand that has spoken to generations of Americans for almost a century about matters related to their financial well-being and security.’
“He said he plans to leave Kiplinger’s leadership team in place and encourage it to double down on its specialized newsletters, an approach that publications such as Politico, Axios, The Post and other inside-the-Beltway media outfits have invested in for years.
“He declined to detail what specific news products the company will pursue, but he seemed to hint that it would target a new generation of wealthy, money-focused individuals.”
Read more here.