This Old House” is getting new ownership.
The venerable home-improvement brand, whose flagship TV series has been on the air since 1979, has been acquired from Time Inc. by former Time Inc. executive Eric Thorkilsen in partnership with private equity firm TZP Group, the new company said Friday.
This Old House Ventures LLC will be anchored by “This Old House” and its TV sibling, “Ask This Old House,” as well as This Old House magazine, online content, a line of books and other branded products.
Thorkilsen was named CEO of the new company. Susan Wyland, most recently an editorial consultant running her own firm, joins This Old House magazine as its new editor-in-chief.
As a fully integrated, multimedia business, This Old House Ventures LLC will manage all of its own core business functions, including original television production, digital content and operations, advertising sales, magazine editorial, brand licensing and marketing from new headquarters in Stamford, Conn., beginning this summer, the company said.
Time Inc., which launched the magazine in 1995 and later bought the TV show from Boston public TV station WGBH, will continue to provide back-office operations, including magazine production and subscription services.
No financial terms for the purchase were disclosed.
