The Hollywood Reporter - Ownership Changes

Ownership Changes

Wilkerson ran The Hollywood Reporter until his death in 1962, when his wife, Tichi Wilkerson, took over as publisher and editor-in-chief. She sold the paper on April 11, 1988 to trade publishers BPI for $26.7 million. Teri Ritzer was the last editor under Wilkerson. She began the paper's modernization by bringing newspaper editors into what was essentially a Hollywood wannabe newsroom.

BPI's publisher, Robert J. Dowling, brought in Alex Ben Block in 1990 and editorial quality of both news and specials was steadily improved. Ritzer and Block dampened much of the rah-rah coverage and cronyism that had infected the paper under Wilkerson. After Ben Block left, former film editor at Variety, Anita Busch, was brought in as editor between 1999 and 2001. Busch was credited with making the paper competitive with Variety. Dowling helmed the paper until he was forced to retire during corporate changes in late 2005. Tony Uphoff assumed the publisher position in November 2005. The Reporter was acquired, along with the rest of the assets of VNU, in spring 2006 by a private equity consortium led by Blackstone and KKR, both with ties to the conservative movement in the United States. Uphoff was replaced in October 2006 by John Kilcullen, who was the publisher of Billboard. Kilcullen was a defendant in Billboard's infamous "dildo" lawsuit, in which he was accused of race discrimination and sexual harassment. VNU settled the suit on the courthouse steps. Kilcullen "exited" Nielsen in February 2008 "to pursue his passion as an entrepreneur." Matthew King, vice president for content and audience, editorial director Howard Burns, and executive editor Peter Pryor left the paper in a wave of layoffs in December 2006; editor Cynthia Littleton, widely respected throughout the industry, reported directly to Kilcullen. The Reporter absorbed another blow when Littleton left her position for an editorial job at Variety in March 2007. Web editor Glenn Abel also left after 16 years with the paper.

In January 2007, VNU was purchased by a private equity consortium and renamed The Nielsen Company, whose properties include Billboard, AdWeek and A.C. Nielsen. Under its new leadership, Nielsen is reported to have made a US$5 million investment in The Reporter.

In December 2009, Prometheus Global Media, a newly formed company formed by Pluribus Capital Management and Guggenheim Partners and chaired by Jimmy Finkelstein, CEO of News Communications, parent of Congressional Journal the Hill, acquired The Hollywood Reporter from Nielsen Business Media. It pledged to invest in the brand and grow the company.

Richard Beckman, formerly of Condé Nast, was appointed the new company's CEO.