RentPath
RentPath Inc. is a privately held American media company owned by TPG Capital and Providence Equity Partners LLC.
History
Organized in 1989 as K-III Communications Corporation by private equity giant Kohlberg Kravis Roberts, the company made a series of acquisitions of niche publications under Bill Reilly's leadership in the 1990s. The firm went public in 1995, selling 15 million shares at approximately $12 per share, in a deal that left Kohlberg Kravis Roberts with control of 82.2% of the company's shares.The firm adopted the Primedia name as of November 18, 1997 to more clearly focus on its core business.
Primedia sold a group of 17 outdoor-oriented magazines to InterMedia Outdoors for $170 million in cash, in a deal that included Guns and Ammo and Fly Fisherman.
In 2007 Primedia sold its Enthusiast Media division to Source Interlink in a deal that netted Primedia $1.15 billion in cash in exchange for a group of more than 70 magazines, including Motor Trend and Soap Opera Digest and 90 consumer web sites. The deal left Primedia to focus on a series of free print and online consumer guides published by its Consumer Source unit.
In 2011, private equity firm TPG Capital bought Primedia for $525 million. In 2013, the company changed its name to RentPath.
In 2014, Providence Equity Partners LLC acquired 50% of the company.
In July 2015, former CEO of Autotrader.com, Chip Perry, was named president and CEO of RentPath. He succeeded Charles Stubbs who has remained on the RentPath board of directors.
In November 2015, Chip Perry stepped down as president and CEO of RentPath, to take over as CEO of TrueCar.
RentPath's CFO, Kim Payne, has stepped in as interim president and CEO as of November 2015.
RentPath named Marc P. Lefar as President and CEO on April 4, 2016.
Timeline
- 1989 – Founded as K-III Communications, a new venture financed by the investment group Kohlberg, Kravis, Roberts and Co.
- 1989 – Purchased Intertec Publishing, Macmillan Book Clubs, and Gryphon Editions from Macmillan and Webb Publishing from Maxwell Communications
- 1990 – Acquired Ward's from Thomson Corporation
- 1990 – Purchased business publications of Andrews Communications
- 1990 – Acquired Readers Garden, operator of special interest book clubs
- 1990 – Acquired Weekly Reader and Funk & Wagnalls from Marshall Field 5th
- 1991 – Purchased 9 magazines from News Corporation for $600 million.
- *Daily Racing Form
- *Soap Opera Digest
- *Soap Opera Weekly
- *New York
Saturday Evening Post
Fortune
Playboy
- *Seventeen
- *Premiere
- *European Travel & Life
- *Automobile
- *New Woman
- 1992 – Acquired medical publisher Krames from Grolier
- 1992 – Acquired Films for the Humanities & Sciences
- 1993 – Acquired three magazines from Wiesner
- 1993 – Acquired World Almanac from Scripps
- 1994 – Acquired Stagebill
- 1994 – Acquired Katharine Gibbs
- 1994 – Acquired Haas Publishing, now Consumer Source Inc., publisher of Apartment Guides
- 1994 - Acquired PJS Publications
- 1995 - Acquired the US trade magazine operations of Maclean-Hunter
- 1995 – Went public
- 1995 – Acquired Chicago from Landmark Communications
- 1995 – Acquired McMullen & Yee Publishing, a publisher of automotive magazine
- 1996 – Acquired 14 publications from Cahners Consumer Magazines
- 1996 – Acquired Pro Football Weekly
- 1996 – Acquired Westcott Communications
- 1997 – Acquired Farm Press
- 1997 – Acquired Intellichoice
- 1997 – Sold Krames to Times Mirror
- 1997 – New Woman sold to Rodale
- 1997 – Katharine Gibbs sold to Career Education Corporation
- 1997 – Acquires Park Avenue Publishing, publisher of Lowrider
- 1997 – Changed name to Primedia Inc.
- 1998 – Acquires Cowles Enthusiast Media and Cowles Business Media divisions of Cowles Media Company from McClatchy Newspapers
- 1998 – Daily Racing Form sold to private investors
- 1998 – Stagebill sold to Fred B. Tarter
- 1998 – Newbridge Communications sold to Doubleday Direct
- 1998 – Acquired Sterling/MacFadden's teen magazines and teen publisher Laufer Publishing
- 1999 – Primedia's education unit sold to Ripplewood Holdings
- 1999 – Acquired Multimedia Publishing
- 1999 – Sold Better Nutrition, Southwest Art, and Vegetarian Times to Sabot Publishing
- 2000 – Acquired About.com
- 2001 – Purchased EMAP's US magazines
- 2001 – Closed Country Journal
- 2002 – Modern Bride sold to Condé Nast Publications
- 2002 – Pro Football Weekly sold to Arkush family
- 2002 – Chicago sold to Tribune Company
- 2002 – American Baby sold to Meredith Corporation
- 2003 – Volleyball, Teddy Bear and Friends and Doll Reader sold to Ashton International Media
- 2003 – Seventeen sold to Hearst Corporation
- 2003 – New York sold to Bruce Wasserstein
- 2003 – Tiger Beat and Bop sold to Laufer Media
- 2003 – Kitplanes sold to Belvoir Publications
- 2003 – Simba Information sold to R.R. Bowker
- 2004 – Sold Folio: and Circulation Management to Red 7 Media
- 2005 – About.com sold to The New York Times Company
- 2005 – Sold business information segment to private investors Wasserstein & Co.
- 2005 – Sold Ward's to Prism Business Media
- 2006 – Sold history magazines to Weider History Group
- 2006 – Sold Crafts Group to Sandler Capital Management
- 2006 – Sold Outdoor Group to InterMedia Partners
- 2007 – Sold Enthusiast Media group to Source Interlink, controlled by Ronald Burkle, for $1.2 billion.
- 2007 – Sold Gems group to Interweave
- 2007 – Sold Climbing to Skram Media
- 2007 – Sold Films for the Humanities & Sciences to Infobase Publishing
- 2007 – Sold Channel One News to Alloy Media and Marketing
- 2008 – Sold South Florida Auto Guide and Wisconsin Auto Guide to TargetMedia Partners; closes Atlanta Auto Guide
- 2009 – Closes Today's Custom Home
- 2011 – TPG Capital acquires company
- 2012 – Acquires rent.com from eBay for an undisclosed amount.
- 2014 – Acquires San Francisco startup Lovely for $13 million.
- 2014 – Providence Equity Partners LLC becomes an equal partner with TPG Capital.
Former major Primedia titles
- 4 Wheel Drive & Sport Utility Magazine
- Automobile Magazine
- Car Craft
- Dirt Rider
- Four Wheeler
- Home Theater
- Hot Bike
- Hot Rod Magazine
- JP Magazine
- Lowrider Magazine
- Mini Truckin Magazine
- Modified Magazine
- Mopar Muscle Magazine
- Motorcyclist
- Motor Trend
- Mustang Monthly
- Peterson's 4-Wheel & Off Road
- Power & Motoryacht
- Project car tuner magazine
- Sail Magazine
- SLAM Magazine
- Soap Opera Digest
- Soap Opera Weekly
- Sport Compact Car
- Stereophile
- Super Street
- Truckin Magazine
- Truck Trend
- Sport Truck
Primedia Equestrian Group
- Arabian Horse World
- Dressage Today
- EQUUS
- Horse & Rider
- Practical Horseman
Primedia Action Sports Group
- Bike Magazine
- Bodyboarding Magazine
- Box Inline Skate Magazine
- Canoe & Kayak Magazine
- Powder Magazine
- Skateboarder Magazine
- Slam Magazine
- Snowboarder Magazine
- Surfer
- Surfing Magazine