×

Time Inc. Sells ‘This Old House’ To New Owner

“This Old House” has been sold.

The home-improvement content brand, controlled for years by magazine-publisher Time Inc., is going solo. Eric Thorkilsen, a veteran media and publishing executive who has been involved with brands like “House” and “Martha Stewart” in the past, and TZP Growth Partners l, L.P., a New York-based private equity fund, will acquire This Old House Ventures, LLC and all of its associated media properties.  Terms of the deal were not disclosed.

Thorkilsen, will serve as chief executive officer of the company. He worked at Time Inc. for 30 years and had a strong hand in managing “This Old House” after Time launched a magazine based on the property in 1995 and acquired it in 2001 from Boston public-TV station WGBH. He was founding executive of This Old House Ventures, which is what the company was called under Time’s aegis.

“I have been a champion of This Old House for the better part of three decades and it is an honor to be able to rejoin this extraordinary franchise and bring it to a new generation of fans,” the executive said in a statement.  “I could not have made this leap without the support of my partners at TZP, who were steadfast in their resolve that this was a worthy investment.”

This Old House compries the thisoldhouse.com webiste, a magazines and the two TV series, “This Old House” and “Ask This Old House,” which are broadcast on PBS. The experts on the show – host Kevin O’Connor, master carpenter Norm Abram, general contractor Tom Silva, plumbing and heating expert Richard Trethewey, and landscape contractor Roger Cook – are expected to continue under the new regime.

Both series are currently in production and will premiere for a 37th season and 15th season, respectively, on PBS stations this fall. WGBH Boston will continue to distribute the programs.  Chris Wolfe retains his role as executive producer of both series

Susan Wyland, best known for her tenure on Time Inc.’s Real Simple magazine, will oversee the magazine as editor in chief. Scott Omelianuk, This Old House’s top editor for the last 12 years, will leave to pursue what the company said was “an opportunity in the television space.”

 

 

 

 

 

Popular on Variety

More TV

  • T.J. Dillashaw, right, kicks Cody Garbrandt

    Disney Plans UFC Broadcast for FX

    UFC matches will return to FX  – but not on a permanent basis. ESPN has been showing preliminary bouts to UFC pay-per-view events for the last while on ESPN and ESPN2, and then showing the main card on its ESPN+ subscription video service. In September, the early lineup will air on FX, which the UFC [...]

  • George RR Martin

    George R.R. Martin Says HBO's 'Game of Thrones' Ending Won't Influence Future Novels

    Geroge R.R. Martin is sticking to his original plan when it comes to the future of “Game of Thrones.” In an interview with The Observer, Martin claimed that HBO’s controversial ending for the series would have no affect on the endings of the last two novels. “No, it doesn’t. It doesn’t change anything at all,” [...]

  • Listen: 'Pennyworth' Producer Talks Delving into

    Listen: 'Pennyworth' Executive Producer Talks Delving into Alfred's Backstory

    Bruno Heller may have served as an executive producer on the Batman-inspired series “Gotham” for the past five years, but it’s actually real-life people (not superheroes) that intrigue the producer the most. It’s for that exact reason that Heller’s newest series finds him exploring the origin stories of Batman’s butler Alfred in the Epix drama [...]

  • "Trust Issues" - Dylan and Lizzie

    'Instinct' Canceled After Two Seasons

    CBS has canceled “Instinct” after two seasons. Series creator Michael Rauch announced the cancellation Friday on Twitter, writing, “I’m very sad to relay the news that @instinctcbs won’t be renewed for a 3rd season. We will double up this Sunday and our season/series finale will be Aug 25.” Rauch also thanked series stars Alan Cumming [...]

  • Maisel Day

    My Mostly OK Maisel Day (Column)

    When Amazon announced its first-ever Maisel Day, I was intrigued. For one day, Aug. 15, “The Marvelous Mrs. Maisel” fans and Angelenos (fangelenos?) could hit up various restaurants, theaters and retailers throughout Los Angeles for special deals, all at 1959 prices. Among the gems: $2.50 makeovers, $0.99 pastrami sandwiches and $0.30 for a gallon of [...]

  • Nordisk Film & TV Fond Announces

    Nordisk Film & TV Fond Backs Joachim Trier, Ole Bornedal, Yellow Bird

    Nordisk Film & TV Fond has announced three features, two series and a documentary set to receive $1.4m in financing, as well as distribution, dubbing and cultural initiative support recipients. Doing so, it highlights some of the key titles moving forward in the Nordic region. Already backed by the Danish Film Institute’s largest ever grant [...]

  • TV News Roundup: 'Silicon Valley' Final

    TV News Roundup: 'Silicon Valley's' Final Season Sets October Premiere Date

    In today’s roundup, “Silicon Valley” returns to HBO on Oct. 27 and Quibi greenlights a new cooking competition show “Dismantled.” DATES The fifth season of Netflix‘s “Peaky Blinders” will premiere on the streamer Oct. 4. The newest season will continue to follow one gangster family in the lawless streets of Birmingham, UK during the midst [...]

More From Our Brands

Access exclusive content