Things have changed drastically for Condé Nast in the post-glossy era. But as a continually shifting media landscape prompts cuts and sales throughout the company, execs maintain that Condé Nast itself isn’t going anywhere.
“Condé Nast has not been, is not, and will not be for sale,” Steven Newhouse, the head of Condé’s parent company, told Reeves Wiedeman in a recent New York magazine feature.
Rumors of a sale have swirled in recent years as the once infamously glamorous company has downsized, closing and selling off multiple titles and “restacking” brands and employees onto fewer of the 23 floors Condé began occupying in One World Trade center after leaving its Times Square headquarters in 2014.
Sales to fellow post-glossy competitor Hearst have been rumored, as well as to tech giants like Apple and Google, but according to Newhouse, the company isn’t going anywhere. The nephew of late newspaper magnate Si Newhouse who is largely credited with raising the Condé Nast empire to its former glory, Steven says the company’s future is largely in the hands of CEO Roger Lynch.
Lynch, former CEO of Pandora, replaced Bob Sauerberg in April as Condé Nast’s first global CEO overseeing the newly combined Condé Nast US and Condé Nast International. However, as Wiedeman noted, the fact that Lynch sold Pandora 18 months after becoming CEO “has done little to dispel the rumors” of a forthcoming sale for Condé.
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