May 15, 2019 — The firm represented magazine publisher Condé Nast in the sale of two venerable media brands in two separate deals.
On May 13, Condé Nast sold Golf Digest, the world’s leading golf media brand, to media company Discovery Inc. The deal boosts Discovery’s golf content partnership with Tiger Woods and the PGA Tour, which includes the GolfTV streaming service.
“This is an important step in enhancing and expanding the U.S. and global reach of Discovery and GolfTV,” Woods said. “This acquisition, along with what Discovery and GolfTV have already done with the PGA Tour, is great for the game of golf."
Discovery Inc., which owns the Discovery Channel, HGTV and other premium brands, will continue to publish Golf Digest as a regular, monthly magazine, and will bolster coverage, including rankings, instructional videos and travel destinations.
On May 15, Condé Nast sold Brides, a leading wedding and bridal brand, to digital media company Dotdash, a subsidiary of Barry Diller's IAC holding company. Dotdash will publish the magazine online only beginning in the fall.
Terms were not disclosed for either deal. The sales help Condé Nast in its digital-led turnaround as it seeks to diversify from ad-based businesses.
Founded in 1909, Condé Nast is a global media company that reaches more than 1 billion consumers in 30 markets worldwide through print, digital, video and social platforms. The company’s portfolio features many of the world’s most respected and influential media properties, including Vogue, Vanity Fair, GQ and The New Yorker.
The sales made headlines in The New York Times, Variety, The Hollywood Reporter, the New York Post, Deadline.com, The Deal and other news sources.
Matthew Syrkin and Michael Traube led the team, which also included Ken Lefkowitz, Shane Stroud, Robert Bell, Andy Braiterman, Patrice Jean, Alan Kravitz, Jaime Steinfink, Erin DeCecchis, Ben Ferziger, Don D’Amico, Dena Smith, Gerold Niggemann, Margot Warhit and Jeffrey Bednar.