PMC Acquires Art Publication Artforum12/07/2022
Penske Media Corp., parent company of Variety, has acquired Artforum International Magazine, a leading voice in the contemporary art world. Since its founding in 1962, Artforum has been at the vanguard of contemporary art criticism, and throughout its history has remained a voice of record for the art world.
Publisher Danielle McConnell and associate publisher Kate Koza will continue to lead Artforum operations, with editor David Velasco overseeing 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 PMC brands, including existing outlets ARTnews and Art in America. Terms of the transaction were not disclosed.
“Artforum’s quality and authority in the art world is unparalleled,” said PMC chairman and CEO Jay Penske. “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.”
Artforum delivers a highest level of critical discourse about contemporary visual culture to a diverse international audience and is often the first to identify artists whose work comes to define eras. Launched in California in 1962, the publication moved to New York in 1967, where it is still based.
“I’m proud to have been part of Artforum’s impressive evolution as the leading voice and record of contemporary art during my time as publisher,” said Korner. “As Artforum looks to its next chapter, we have found a strong steward in Jay Penske and PMC. PMC is committed to Artforum’s mission and invested in ensuring the magazine continues to uphold the highest editorial standards in the industry.”
“I look forward to continuing our work with the brilliant writers, artists, and editors who have made this magazine a touchstone for generations,” said Velasco. “I’m confident that PMC is the right partner for Artforum as we deepen our commitment to our community and build new ways to communicate our mission across a variety of media.”
“The unparalleled talents of our staff and writers have solidified Artforum’s reputation as the standard-bearer of contemporary art criticism over the years,” said Koza. “Since 2020, we have expanded Artforum’s digital footprint in ways that complement and enliven the mission of the print magazine, and we are excited to foster further growth across our platforms. We have found a strong partner in PMC, whose resources will support our team’s creativity and vision and help us carry Artforum’s legacy into the future.”
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