RentPath

For the South African media group, see Primedia Broadcasting

RentPath, LLC
Private
Founded 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

Former Major Primedia Titles (magazines are now part of Source Interlink)

as well as Automotive.com, Intellichoice.com, , , web sites

Primedia Equestrian Group

Primedia Action Sports Group

References

  1. via Reuters. "K-III's Initial Stock Offering", The New York Times, October 7, 1995. Accessed October 23, 2008.
  2. Staff. "K-III's New Name To Be 'Primedia'", The New York Times, November 1, 1997. Accessed October 23, 2008.
  3. Sorkin, Andrew Ross. "InterMedia to Buy Primedia’s Outdoor Magazines", The New York Times, December 7, 2006. Accessed October 23, 2008.
  4. via Reuters. "Magazine Publisher Is Selling Special-Interest Unit for $1.15 Billion", The New York Times, May 15, 2007. Accessed October 23, 2008.
  5. Lattman, Peter (May 16, 2011). "After 22 Years — 22 Years! — K.K.R. Is Exiting Primedia". The New York Times. Retrieved October 20, 2011.
  6. Primedia Changes Name to RentPath
  7. "Former AutoTrader CEO Chip Perry named RentPath CEO". Biz Journals. Biz Journals. Retrieved 28 July 2015.
  8. http://www.autonews.com/article/20151123/OEM02/151129953/chip-perry-truecars-new-ceo-seeks-to-rebuild-dealers-trust
  9. http://www.rentpath.com/leadership-team/
  10. http://www.rentpath.com/marc-lefar-new-rentpath-ceo/
  11. https://www.linkedin.com/in/marc-lefar-6b42657
  12. "THE MEDIA BUSINESS; Macmillan and Maxwell Sell Four Units to Kohlberg". The New York Times. 1988-12-02. ISSN 0362-4331. Retrieved 2014-08-23.
  13. "K-III to Buy Automotive Industry Publisher Ward's Communications". Associated Press. 1990-05-07. Retrieved 2015-04-24.
  14. Variety Staff. "K-III Bid Wins Murdoch Mags". Variety. Retrieved 2015-04-24.
  15. "K-III COMMUNICATIONS BUYS EDUCATIONAL VIDEOS COMPANY - Free Online Library". Retrieved 2014-08-23.
  16. K-III acquires Automotive-Truck 'Enthusiast' publisher McMullen & Yee
  17. http://www.westcott.com/
  18. 5, Apr; Br, 2003 Hembree; Press, on Farm Press Editorial Staff. "Farm Press mirrors ag achievement". Western Farm. Retrieved 2016-05-22.
  19. Spotlight: McMullen Argus Buys Park Avenue Publishing
  20. "Primedia To Acquire Cowles Magazines, Newsletters and Trade Shows 25 Enthusiast Titles, 11 Technical and Trade Magazines, and 15 Trade Shows Included in Transaction" (Press release). PR Newswire. January 9, 1998. Retrieved September 11, 2012.
  21. Deals-Southwest Art
  22. Alberto Move From Lois A Beauty For Tatham
  23. "Transactions from 2002". Retrieved 11 September 2012.
  24. KITPLANES Joins AVweb Under Belvoir
  25. R.R. Bowker Acquires Simba Information
  26. Primedia Sells Folio, Circulation Management
  27. "Primedia Business Information Profile". Media Owners. Retrieved 2007-02-16.
  28. "PRIMEDIA's Wards Automotive Magazines Sold to Prism Media". Retrieved 2015-04-24.
  29. Weider Purchases History Magazines From Primedia
  30. "BREAKING NEWS: Primedia To Sell Crafts Group for $132 Million - M and A and Finance @ FolioMag.com". Retrieved 2014-08-25.
  31. "Primedia To Sell Outdoor Group - M and A and Finance @ FolioMag.com". Retrieved 2014-08-25.
  32. "Burkle's Source Agrees to Buy Primedia Magazine Group".
  33. Interweave Press Buys Primedia's Gems Group
  34. Primedia Unclips Climbing
  35. Content, Library Journal Archive. "Infobase Buys Films Media Group". Library Journal. Retrieved 2014-08-23.
  36. FitzGerald, Drew. "EBay Sells Rent.com Website To Primedia". Dow Jones Newswires. Retrieved 22 March 2012.
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