Biography
Advance Publications is the privately held American media conglomerate controlled by the Newhouse family that owns Condé Nast and, through it, became the controlling owner of Reddit after the 2006 acquisition. When Reddit was spun out of Condé Nast in 2011, Advance retained the largest ownership position in the now-independent company. The firm traces its roots to Samuel I. Newhouse, who built it from distressed newspaper assets beginning in the 1920s. Advance's long-held Reddit stake delivered a reported windfall of roughly $1.4–2 billion when Reddit completed its IPO in March 2024.