Courtesy Citybizlist – Robert M. Parker Jr., considered the world’s most powerful wine critic, has sold a “substantial interest” in the Wine Advocate, his 34-year-old newsletter, to a trio of Singapore-based investors, The Wall Street Journal reported.
Parker, 65, also is to step down as its editor in chief, handing over duties to his Singapore-based correspondent, Lisa Perrotti-Brown, as the newsletter business plans far-reaching changes, it added. He will stay on in the new company as chairman, and continue to write for the newsletter.
The Wine Advocate will phase out the print version of the newsletter as early as 2013 and for the first time begin accepting advertisements for non-wine products. The company’s headquarters, an office just down the driveway from Mr. Parker’s home in Maryland farm country, is also moving to Singapore, the report added.