RentPath

RentPath, LLC

Type	Private
Founded	1989 (1989)
Headquarters	Atlanta, Georgia, United States
Key people	Marc Lefar (CEO)
Owner	TPG Capital and Providence Equity Partners
Website	www.rentpath.com

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 stock 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.^[1] The firm adopted the Primedia name as of November 18, 1997 to more clearly focus on its core business.^[2] 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.^[3] 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.^[4]

In 2011, private equity firm TPG Capital bought Primedia for $525 million.^[5] In 2013, the company changed its name to RentPath.^[6]

In 2014, Providence Equity Partners LLC acquired 50% of the company.^[7]

In July 2015, former CEO of AutoTrader, Chip Perry, was named president and CEO of RentPath. He succeeded Charles Stubbs who has remained on the RentPath board of directors.^[8]

In November 2015, Chip Perry stepped down as president and CEO of RentPath, to take over as CEO of TrueCar.^[9]

RentPath's CFO, Kim Payne, has stepped in as interim president and CEO as of November 2015.^[10]

RentPath named Marc P. Lefar as President and CEO on April 4, 2016.^[11][12]

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 (renamed Newbridge Communications), and Gryphon Editions from Macmillan and Webb Publishing from Maxwell Communications^[13]
• 1990 – Acquired Ward's from Thomson Corporation^[14]
• 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.^[15]
  • Daily Racing Form
  • Soap Opera Digest
  • Soap Opera Weekly
  • New York
  • Seventeen
  • Premiere
  • European Travel & Life
  • Automobile
  • New Woman
• 1992 – Acquired medical publisher Krames
• 1992 – Acquired Films for the Humanities & Sciences^[16]
• 1993 – Acquired three magazines from Wiesner
• 1993 – Acquired World Almanac from Scripps
• 1994 – Acquired Stagebill
• 1994 – Acquired Katharine Gibbs^[17]
• 1994 – Acquired Haas Publishing, now Consumer Source Inc., publisher of Apartment Guides
• 1995 – Went public
• 1995 – Acquired Chicago from Landmark Communications
• 1995 – Acquired McMullen & Yee Publishing, a publisher of automotive magazine^[18]
• 1996 – Acquired 14 publications from Cahners Consumer Magazines
• 1996 – Acquired Pro Football Weekly
• 1996 – Acquired Westcott Communications^[19] (later renamed Primedia Workplace Learning)
• 1997 – Acquired Farm Press^[20]
• 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^[21]
• 1997 – Changed name to Primedia Inc.
• 1998 – Acquires Cowles Enthusiast Media and Cowles Business Media divisions of Cowles Media Company from McClatchy Newspapers^[22]
• 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 (Weekly Reader, World Almanac) sold to Ripplewood Holdings
• 1999 – Acquired Multimedia Publishing^[23]
• 1999 – Sold Better Nutrition, Southwest Art, and Vegetarian Times to Sabot Publishing^[24][25]
• 2000 – Acquired About.com
• 2001 – Purchased EMAP's US magazines (formerly Petersen Publishing)
• 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^[26]
• 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^[27]
• 2003 – Simba Information sold to R.R. Bowker^[28]
• 2004 – Sold Folio: and Circulation Management to Red 7 Media^[29]
• 2005 – About.com sold to The New York Times Company
• 2005 – Sold business information segment (ex-Intertec^[30]) to private investors Wasserstein & Co. (later merged with Penton Media)
• 2005 – Sold Ward's to Prism Business Media^[31]
• 2006 – Sold history magazines to Weider History Group^[32]
• 2006 – Sold Crafts Group to Sandler Capital Management^[33]
• 2006 – Sold Outdoor Group to InterMedia Partners^[34]
• 2007 – Sold Enthusiast Media group (containing the vast majority of Primedia's magazines) to Source Interlink, controlled by Ronald Burkle, for $1.2 billion.^[35]
• 2007 – Sold Gems group to Interweave^[36]
• 2007 – Sold Climbing to Skram Media^[37]
• 2007 – Sold Films for the Humanities & Sciences to Infobase Publishing^[38]
• 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.^[39]
• 2014 – Acquires San Francisco startup Lovely for $13 million.^[40]
• 2014 – Providence Equity Partners LLC becomes an equal partner with TPG Capital.^[41]

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

References

External links

• Primedia corporate website