Conde Nast’s sale of W Magazine is a buyers deal.
Conde Nast’s sale of W Magazine is a buyers deal.
Conde Nast has had W Magazine up for sale for the last 9 months with only a few major players taking interest. Hong Kong Billionaire, Adrian Cheng Chi-kong and C Ventures took interest without gain as well as top Editor-In-Chief, Stefano Tonchi.
W magazine is proving that it is a sale suited to the best buyer or should we say buyer team.
$7 million could likely be the magic number for tech investor Eric Crown of AZ Crown Investments and Marc Lotenberg of Surface Media.
Surface Media ownership includes Adam Sandow who sold Surface in- house agency Culture+Commerce which included a minority stake in Surface Media.
It is however unlikely that Adam Sandow, CEO of Sandow and publisher of NewBeauty and other magazines is involved in the investment team.
Sandow, “ If Surface is involved in purchasing W magazine, we wish them the best, but we are not aware of this and are not involved.”
We will see more support for Surface Media’s purchase of W magazine or will Conde Nast have to wait for a more fitting group of buyers?
Leave a Reply