After Reportedly Losing $120 Million Last Year, Condé Nast Will Sell 3 of Its Titles

Brides, Golf Digest and W will be sold

Condé Nast intends to sell three titles, according to The New York Times. Conde Nast
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Condé Nast looks to sell three of its titles—Brides, Golf Digest and W—partly due to a recommendation from Boston Consulting Group, The New York Times reported.

The rumored sale comes after Condé Nast reportedly lost about $120 million last year. Condé Nast CEO Robert A. Sauerberg Jr. intends to talk with senior staffers next week, according to the report.

A spokesperson for Condé Nast declined to comment. Its parent company is Advance Publications.

Two senior-level Condé executives have recently left, including Dawn Ostroff, former president of Condé Nast Entertainment, who left for Spotify, and Josh Stinchcomb, former chief experience officer, who went to Dow Jones.

Earlier this week, Condé Nast made headlines after a HuffPost piece claimed Beyoncé was given unprecedented control over her September cover of Vogue. The piece suggested that it would be the last September issue for Anna Wintour, Condé Nast’s artistic director and editor-in-chief of Vogue.

In turn, Sauerberg released a statement saying Wintour would work with him “indefinitely.”

“Anna Wintour is an incredibly talented and creative leader whose influence is beyond measure. She is integral to the future of our company’s transformation,” he said in the statement.

Condé Nast’s portfolio of titles also includes Vanity Fair and The New Yorker, a recently redesigned Glamour, GQ, GQ Style, Condé Nast Traveler, Allure, Architectural Digest, Bon Appétit and Wired. Former print magazines, Self and Teen Vogue, became digital-only in recent years. Condé Nast websites include Epicurious, Ars Technica, Pitchfork, them and Iris.

Over at Meredith, there are also four magazine titles up for sale—Time, Sports Illustrated, Fortune and Money—after the company acquired Time Inc. for $2.8 billion. The sale of those titles are expected by the end of summer.

@SaraJerde Sara Jerde is publishing editor at Adweek, where she covers traditional and digital publishers’ business models. She also oversees political coverage ahead of the 2020 election.
Publish date: August 1, 2018 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT