Parker sells Wine Advocate stake for $15m

12th December, 2012 by Lucy Shaw

US wine critic Robert Parker sold the major stake in The Wine Advocate to Singapore-based investors for US$15 million, according to a newspaper report.

Robert Parker

AFP reports that Singapore’s Straits Times spoke to potential investors invited to take part in a deal brokered by bankers in the city-state.

Parker has yet to release financial details of the deal.

As reported on db.com, on Monday Parker went public with the news that he was stepping down as editor-in-chief of the title, having sold a “substantial interest” in the company to new investors.

“We will not comment further than that which has already posted,” a spokeswoman for The Wine Advocate told AFP.

Earlier this week, the Wall Street Journal report that Parker would be phasing out the print edition of the bi-monthly newsletter, though Parker took to Twitter to confirm that this was not the case.

“There are no plans to eliminate the print edition,” he said.

Rather, subscribers will be offered a printable pdf version, with a Kindle edition also in the pipeline. Largely based in the US, subscribers currently pay US$75 a year for six issues.

The company’s headquarters will remain in Maryland, though a new office in Singapore is due to open soon where newly appointed editor-in-chief, Lisa Perrotti-Brown MW, will be based.

“We can more easily serve Asian countries from Singapore,” said Parker.

3 Responses to “Parker sells Wine Advocate stake for $15m”

  1. Vincent Pousson says:

    $15M, in fact $10M + $5M
    The story was here, first, yesterday: http://ideesliquidesetsolides.blogspot.com.es/2012/12/qui-achete-parker.html

  2. Vincent Pousson says:

    “according to a newspaper report”
    Please, in which newspaper report did you found that?
    Thanks.
    VPo.

  3. Ted Powers says:

    Parker sold the major part of Wine Advocate, also what rume are saying in Bordeaux he might come an other few years and that is it.
    Best regards,
    Joel

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

Subscribe to our newsletters

New Business Development Manager Nordic

Concha Y Toro
Stockholm, Sweden

Experienced Administrator

The Drinks Business
Central London, UK

Sales Executive (London – Craft Spirits)

Bimber Distillery
London, UK

2 x Buying Assistants

Berry Bros. & Rudd
Battersea and Basingstoke, UK

Temporary Christmas Sales Support - Wines & Spirits

Harrods
Knighsbridge, London, UK

Head of Wholesale

Hispamerchants Ltd
London, UK

Sales Manager

Hispamerchants Ltd
London, UK

The World Bulk Wine Exhibition

Amsterdam,Netherlands
20th Nov 2017

The Drinks Business Green Awards 2017

London,United Kingdom
20th Nov 2017

The Global Spirits Masters Lunch

London,United Kingdom
1st Dec 2017
Click to view more

Green Awards 2017

Deadline : 25th October 2017

The Global Riesling Masters 2017

Deadline : 30th October 2017

Click to view more

Champagne Masters 2017

The only Champagne blind tasting in the UK, the competition will reward the best wines in the following categories:

The Global Rosé Masters 2017

With wines from the palest of pink to almost ruby red, bone dry to almost cloyingly sweet, reductively handled to barrel-aged, as well as gently spritzy to fully sparkling.

Click to view more