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Penske Media Dissolves Literary Digest Bookforum a Week After Acquisition of Parent Company

The media conglomerate purchased Artforum International Magazine on Tuesday

Penske Media Company has shuttered Bookforum a week after acquiring the publication’s parent company, Artforum International Magazine.

“It is with great regret that we announce that the current December/January/February issue of Bookforum will be the magazine’s last issue,” the publishers wrote in a statement on Monday.

“We would like to thank our extraordinarily talented staff and writers. We are so proud of the contribution Bookforum has made to the literary community and are immensely grateful to the advertisers, subscribers, and booksellers who made our mission possible over the years,” the magazine added. “Subscribers will receive communication about remaining issue fulfilment in the weeks ahead.

The acquisition closed last Tuesday, making Penske Media the sole owner of all three of the art world’s leading print magazines after purchasing Art in America and ARTnews in 2018.

Bookforum did not immediately respond to TheWrap’s request for comment.

Artforum turned 60 years old this year. Founded in 1962, David Velasco has served as editor-in-chief of the publication since 2017.

PMC, headquartered in Los Angeles and New York, also owns Billboard, Rolling Stone and entertainment trade publications Variety, Deadline and The Hollywood Reporter as well as IndieWIRE. The Penske umbrella includes over 20 media brands total.

“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,” PMC chairman and CEO Jay Penske said of Artforum following the acquisition.

As for the strategy of approaching the art world with ownership of the three leading magazines, PMC declared that Artforum will remain editorially independent of other Penske Media brands — including ARTNews and Art in America.