Conde Nast will reportedly put a ‘For Sale’ sign on its Brides, Golf Digest and W magazines – Info Advertisement
The New York Times is out with a grim scoop from medialand this afternoon in a post headlined “Facing Losses, Condé Nast Plans to Put 3 Magazines Up for Sale.” Oddly enough, you have to dive pretty deep into the story by Edmund Lee and Sapna Maheshwari to find out which three mags. So we scrollled down for you:
Robert A. Sauerberg Jr., the chief executive of Condé Nast, plans to address senior staff members on Aug. 8. The meeting will come in the wake of an extended visit from Boston Consulting Group, which recently concluded a monthslong examination. It does not promise to be a cheerful gathering. … Based in part on the recommendation of Boston Consulting Group, the three magazines that the company will try to sell are Brides, Golf Digest and W …
The mag-sale news seems to be a late addition to a larger story already in progress about continuing turmoil at Condé Nast—one clue is that the URL of the post doesn’t mention any of those three magazines, but does name-check Vogue, whose editor-in-chief Anna Wintour was rumored to be on her way out (but then yesterday Condé said she’s staying “indefinitely”). Anyway, read the full Times story (which we suspect will land on the front page of tomorrow’s print business section), because it offers other dark dish—e.g., about the state of employee morale at Condé night now and just how much money the once highly profitable magazine empire lost in 2017.
Article Prepared by Ollala Corp