Condé Nast

This article is about the media company. For the founder, see Condé Montrose Nast.
Condé Nast
Subsidiary
Industry Mass media
Founded 1909 (1909)
Founder Condé Montrose Nast
Headquarters One World Trade Center
New York City, U.S.
Area served
 Worldwide
Key people
Products Magazines
Parent Advance Publications
Website www.condenast.com

Condé Nast, a division of Advance Publications, is an American mass media company headquartered at One World Trade Center in New York City. The company attracts more than 164 million consumers across its 20 print and digital media brands: Allure, Architectural Digest, Ars Technica, Bon Appétit, Brides, Condé Nast Traveler, Details (previously), Epicurious, Glamour, Golf Digest, Golf World, GQ, Lucky, The New Yorker, Pitchfork Media, Self, Teen Vogue, Vanity Fair, Vogue, W and Wired.

The company was founded in 1909 by Condé Montrose Nast and has been owned and operated by the Newhouse family since 1959. Robert A. Sauerberg, Jr. is Condé Nast's chief executive officer and president, Charles H. Townsend is its chairman and Samuel Irving Newhouse, Jr. is its chairman emeritus.

The company launched Condé Nast Entertainment in 2011 to develop film, television and digital video programming.

History

Condé Montrose Nast, a New York City-born publisher, launched his magazine empire in 1909 with the purchase of Vogue, which was first created in 1892 as a New York weekly journal of society and fashion news.[1] At first, Nast published the magazine under Vogue Company and did not incorporate Condé Nast until 1923. He had a flair for nurturing elite readers as well as advertisers and upgraded Vogue, sending the magazine on its path of becoming a top fashion authority. Eventually, Nast's portfolio expanded to include House & Garden, Vanity Fair (briefly known as Dress and Vanity Fair), Glamour and American Golfer. The company also introduced British Vogue in 1916, and Condé Nast became the first publisher of an overseas edition of an existing magazine.

Condé Nast is largely considered to be the originator of the "class publication," a type of magazine focused on a particular social group or interest instead of targeting the largest possible readership.[2] Its magazines focus on a wide range of subjects, including travel, food, home, culture, and other interests, with fashion the larger portion of the company's focus.

Nast remained committed to publishing the highest-quality magazines, and in order to ensure the finest printing for his magazines opened a state-of-the-art printing press in 1924. It eventually grew to become one of the finest manufacturing plants in the country (until it closed in 1964 to make way for more centrally located sites capable of producing higher volumes). Adherence to those high standards continued even during the Great Depression, when Condé Nast introduced innovative typography, design and color. Vogue's first full color photograph was featured on the cover in 1932, marking the year when Condé Nast began replacing fashion drawings on covers with photo illustrations―an innovative move at the time.[3] Glamour, launched in 1939, was the last magazine personally introduced to the company by Nast, who died in 1942.

In 1959, Samuel I. Newhouse, known as "Sam," bought a controlling interest in Condé Nast, merging it with the privately held holding company Advance Publications. His son, S.I. Newhouse, Jr., known as "Si," became chairman of Condé Nast in 1975.

The Newhouse era at Condé Nast launched a period of acquisitions (Brides was acquired in 1959), overhauls of existing magazines (after being shuttered in 1936, Vanity Fair was revived in 1983) and the founding of new publications (Self was launched in 1979). And during the years following Samuel's 1979 death, Condé Nast continued to control an impressive roster of publications, maintaining its image as a premier publisher.

In June 1999, Condé Nast moved from its 350 Madison Avenue address to 4 Times Square,[4] which at the time had been the first skyscraper built in New York City since 1992 and boasted a Frank Gehry cafeteria. The move was also viewed as a contributor to the transformation of Times Square.[5]

In August 1999, Condé Nast purchased Fairchild Publications[6] (now known as Fairchild Fashion Media), home to W and WWD, from the Walt Disney Company.

On October 5, 2009, Condé Nast announced the closure of three of its publications: Cookie, Modern Bride, and Elegant Bride. Gourmet ceased monthly publication with its November 2009 issue; the Gourmet brand was later resurrected as "Gourmet Live," an iPad app that delivers new editorial content in the form of recipes, interviews, stories and videos. In print, Gourmet continues in the form of special editions on newsstands and cookbooks.

Other Condé Nast titles were shut down as well. The company folded the women's magazine Jane with its August issue in 2007 and later shut down its website. One of Condé Nast's oldest titles, the American edition of House and Garden, ceased publication after the December 2007 issue. Portfolio, Mademoiselle and Domino were folded as well.

Condé Nast has also made some notable acquisitions. On October 31, 2006, Condé Nast acquired the content aggregation site Reddit, which was later spun off as a wholly owned subsidiary in September 2011. On May 20, 2008, the company announced its acquisition of a popular technology-oriented website, Ars Technica.

In July 2010, Robert Sauerberg became Condé Nast's president, ushering in a new era less reliant on print adverting and increasingly focused on the development of digital platforms, innovative products and new marketing services to generate revenue. In May 2011, Condé Nast was the first major publisher to deliver subscriptions for the iPad, starting with The New Yorker; the company has since rolled out iPad subscriptions for nine of its titles. In the same month, Next Issue Media, a joint venture formed by five U.S. publishers including Condé Nast, announced subscriptions for Android devices, initially available for the Samsung Galaxy Tab.[7]

In June 2011, Condé Nast announced that it would relocate its headquarters to One World Trade Center in 2015.[8]

In September 2011, Condé Nast said it would offer 17 of its brands to the Kindle Fire.[9]

The company launched Conde Nast Entertainment in 2011 to develop film, television and digital video programming. In May 2013, CNÉ's Digital Video Network debuted, featuring web series for such publications as Glamour and GQ.[10] Wired joined the Digital Video Network with the announcement of five original web series including the National Security Agency satire Codefellas and the animated advice series Mister Know-It-All.[11][12]

In late October 2013, the company ceased its low and unpaid internship program.[13][14]

In November 2014, Condé Nast moved into One World Trade Center, where its new headquarters is located.

On September 14, 2015, the company announced Robert A. Sauerberg, Jr. was appointed as its chief executive officer (CEO) and will remain its president; its former CEO, Charles H. Townsend, will be its chairman, while S.I. Newhouse, Jr. will be chairman emeritus (effective January 2016).[15]

On October 13, 2015, Condé Nast announced that it had acquired Pitchfork Media.[16]

Current US publications and digital assets

Fashion and lifestyle

Home

Bridal

Golf

Food

Travel

Technology

Culture

Music

Defunct publications

Mergers and acquisitions

Acquisitions

Date Company Business Country Value (USD) References
December 30, 1987 Signature Magazine[note 1] Magazine  United States — [18]
November 30, 1988 Woman[note 2] Magazine  United States $10,000,000 [19]
June 25, 1990 Cook's[note 3] Magazines  United States — [20]
April 22, 1992 K-III Magazines-Magazine Sub[note 4] Subscriber lists  United States — [21]
April 20, 1993 Knapp Communications Magazines  United States $175,000,000 [22]
June 12, 1998 Wired Magazine[note 5] Magazines  United States $90,000,000 [23]
December 1, 1999 Fairchild Publications[note 6] Magazines and newspapers  United States $650,000,000 [24]
September 5, 2001 Johansens [note 7] Accommodation guides  United States — [25]
February 28, 2002 Modern Bride Group[note 8] Magazines  United States $52,000,000 [26]
March 28, 2002 Ideas Publishing Group[note 9] Publishing  United States — [27]
July 11, 2006 Lycos Inc-Wired News[note 10] Online news  United States $25,000,000 [28]
July 20, 2006 Nutrition Data Internet service provider  United States — [29]
October 31, 2006 Reddit Social news  United States — [30]
April 23, 2008 SFO*Media Web sites  United States — [31]
May 20, 2008 Ars Technica Web sites  United States — [32]
April 11, 2012 ZipList Web sites & Mobile Apps  United States — [33]
October 13, 2015 Pitchfork Media Web sites  United States — [16]

Stakes

Date Company Business Country Value (USD) References
November 29, 1988 Wagadon[note 11] Magazines  United States — [34]
January 19, 1994 Wired Magazine Magazines  United States — [35]
January 17, 2001 Ideas Publishing Group[note 12] Publishing  United States — [36]

Notes

  1. ↑ Citicorp-Signature Magazine was acquired from Citigroup.
  2. ↑ Harris Publications-Woman was acquired from Harris Publications.
  3. ↑ Pennington Publishing-Cook's was acquired from Bonnier AB.
  4. ↑ K-III Magazines-Magazine Sub was acquired from Primedia.
  5. ↑ Wired Magazine was acquired from Telefonica.
  6. ↑ Fairchild Publications was acquired from The Walt Disney Company.
  7. ↑ Johansens, the parent company of Daily Mail, was acquired from Rothermere Investments.
  8. ↑ Modern Bride Group was acquired from Primedia.
  9. ↑ Ideas Publishing Group was acquired from Advance Publications.
  10. ↑ Lycos Inc-Wired News was acquired from Telefonica.
  11. ↑ Conde Nast Publications acquired a 40% interest in Wagadon.
  12. ↑ Conde Nast Publications acquired a majority interest in Ideas Publishing Group.

References

  1. ↑ A Brief History of the Condé Nast Publications, New York: CNP, 1993.
  2. ↑ "Today in History: March 26". Library of Congress. November 9, 2010. Retrieved November 2, 2011.
  3. ↑ "IN VOGUE: The Illustrated History of the World's Most Famous Fashion Magazine". NYTimes.com. December 3, 2006. Retrieved November 3, 2011.
  4. ↑ Bagli, Charles. "Conde Nast's Stylish Clan Moves Into Times Sq.". The New York Times. June 6, 1999. Retrieved November 3, 2011.
  5. ↑ Agovino, Theresa. "Condé Nast deal at 1 WTC now official". Crain's New York. June 6, 1999. Retrieved November 3, 2011.
  6. ↑ Kuczynski, Alex. "Merger Planned for 2 Giants of Fashion Publishing". The New York Times. August 20, 1999. Retrieved November 3, 2011.
  7. ↑ Kaplan, David. "Next Issue Media Works To Build The Storefront Before The Audience Arrives.". PaidContent. June 29, 2011. Retrieved November 3, 2011.
  8. ↑ Bagli, Charles. "Condé Nast Will Be Anchor of One World Trade Center.". The New York Times. May 17, 2011. Retrieved November 3, 2011.
  9. ↑ Vranica, Suzanne. "Magazines Join With New Tablet Challenger". The Wall Street Journal. September 29, 2011. Retrieved November 3, 2011.
  10. ↑ Tatiana Siegel (May 12, 2013). "Conde Nast Launches Digital Video Network - The Hollywood Reporter". The Hollywood Reporter. Retrieved June 23, 2013.
  11. ↑ Erik Hayden (May 15, 2013). "Conde Nast Entertainment Launches 'Wired' Video Channel". The Hollywood Reporter. Retrieved June 23, 2013.
  12. ↑ Erik Maza (May 2, 2013). "Condé Entertainment Previews Video Channels for Vogue, Wired and Vanity Fair". Women's Wear Daily. Retrieved June 23, 2013.
  13. ↑ Buckley, Cara. "Sued Over Pay, Condé Nast Ends Internship Program". New York Times\date=Oct. 23, 2013.
  14. ↑ "Why Condé Nast Felt It Had To Stop Using Interns". Forbes. October 24, 2013.
  15. ↑ Somaiya, Ravi (September 14, 2015). "Condé Nast Names Robert Sauerberg New C.E.O.". The New York Times. Retrieved September 14, 2015.
  16. 1 2 "Condé Nast Buys Pitchfork Media". The New York Times. Retrieved 13 October 2015.
  17. ↑ "World Of Interiors". worldofinteriors.co.uk.
  18. ↑ "Conde Nast Publications Inc acquires Citicorp-Signature Magazine from Citigroup Inc (1987/12/30)". Thomson Financial. Retrieved October 28, 2008.
  19. ↑ "Conde Nast Publications Inc acquires Harris Publications-Woman from Harris Publications Inc (1988/11/30)". Thomson Financial. Retrieved October 28, 2008.
  20. ↑ "Conde Nast Publications Inc acquires Pennington Publishing-Cook's from Bonnier AB (1990/06/25)". Thomson Financial. Retrieved October 28, 2008.
  21. ↑ "Conde Nast Publications Inc acquires K-III Magazines-Magazine Sub from Primedia Inc (1992/04/22)". Thomson Financial. Retrieved October 28, 2008.
  22. ↑ "Conde Nast Publications Inc acquires Knapp Communications Corp (1993/04/20)". Thomson Financial. Retrieved October 28, 2008.
  23. ↑ "Conde Nast Publications Inc acquires Wired Magazine(Wired Ventures) from Telefonica SA (1998/06/12)". Thomson Financial. Retrieved October 28, 2008.
  24. ↑ "Conde Nast Publications Inc acquires Fairchild Publications Inc from Walt Disney Co (1999/12/01)". Thomson Financial. Retrieved October 28, 2008.
  25. ↑ "Conde Nast Publications Inc acquires Johansens Ltd(Daily Mail) from Rothermere Investments Ltd (2001/09/05)". Thomson Financial. Retrieved October 28, 2008.
  26. ↑ "Conde Nast Publications Inc acquires Modern Bride Group(Primedia) from Primedia Inc (2002/02/28)". Thomson Financial. Retrieved October 28, 2008.
  27. ↑ "Conde Nast Publications Inc acquires remaining interest in Ideas Publishing Group from Advance Publications Inc (2002/03/28)". Thomson Financial. Retrieved October 28, 2008.
  28. ↑ "Conde Nast Publications Inc acquires LYCOS Inc-Wired News from Telefonica SA (2006/07/11)". Thomson Financial. Retrieved October 28, 2008.
  29. ↑ "Conde Nast Publications Inc acquires NutritionData.com (2006/07/20)". Thomson Financial. Retrieved October 28, 2008.
  30. ↑ "Breaking News: Condé Nast/Wired Acquires Reddit (2006/10/31)". TechCrunch. Retrieved October 31, 2006.
  31. ↑ "Conde Nast Publications Inc acquires SFO*Media LLC (2008/05/20)". Reuters. April 24, 2008. Retrieved November 14, 2008.
  32. ↑ "Conde Nast Publications Inc acquires Ars Technica LLC (2008/05/20)". Thomson Financial. Retrieved October 28, 2008.
  33. ↑ "The Conde Nast Startup Story Yahoo Should Study For Tumblr (2013/05/23)". Forbes. Retrieved April 11, 2012.
  34. ↑ "Conde Nast Publications Inc acquires a minority stake in Wagadon Ltd (1988/11/29)". Thomson Financial. Retrieved October 28, 2008.
  35. ↑ "Conde Nast Publications Inc acquires a minority stake in Wired Magazine(Wired Ventures) from Telefonica SA (1994/01/19)". Thomson Financial. Retrieved October 28, 2008.
  36. ↑ "Conde Nast Publications Inc acquires Ideas Publishing Group (2001/01/17)". Thomson Financial. Retrieved October 28, 2008.

External links

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