Report: Condé Nast Set to Sell 3 Magazines, Including 'W'

As well as "Brides" and "Golf Digest."
Author:
Publish date:
Tiffany Haddish on "W," Vol. 3 2018. Photo: Ethan James Green/"W"

Tiffany Haddish on "W," Vol. 3 2018. Photo: Ethan James Green/"W"

On Tuesday, Condé Nast CEO Bob Sauerberg released a very definite-sounding statement that Anna Wintour has agreed to work in her roles of Vogue editor-in-chief, Condé Nast artistic director and apparent Air Jordan sneakerhead "indefinitely." Whether or not this announcement actually quelled speculation that Wintour is set to retire following Vogue's forthcoming September issue is yet to be seen, but that's not the only news coming from inside 1 World Trade Center this week.

In a new report released on Wednesday, The New York Times revealed that, according to "more than a dozen current and former Condé Nast executives" (who spoke to the newspaper on the condition of anonymity), Condé Nast has plans to put three major titles up for sale: W (which currently publishes eight issues a year), Brides (which publishes six) and Golf Digest. (A spokesperson for Condé Nast did not immediately respond to our request for comment.) This action comes partially at the recommendation of Boston Consulting Group, which recently wrapped up its months-long evaluation of the publishing giant.

The same report — which detailed that Condé Nast lost $120 million last year — will also soon lease six of its 23 floors of 1 World Trade Center to further cut costs.

Condé Nast's in-house growing pains have been well-documented in recent years, perhaps beginning with the consolidation efforts of late 2015 and early 2016 which saw both the shuttering of Details as well as the sharing of company resources across five distinct fields. Later came the print closures of Teen Vogue and Self, the sale of Style.com, a myriad of top-level editor depatures and more.  

What comes next will be made more concrete next week; The New York Times reports that Sauerberg has plans to speak to senior staff members on Wednesday, Aug. 8. 

Sign up for our daily newsletter and get the latest industry news in your inbox every day.