June 25, 2019 — In the third of three separate deals for Condé Nast in the past month, Hughes Hubbard advised the global media company in the sale of iconic women’s fashion brand W magazine.
In a deal announced on June 25, Condé Nast sold the brand to Future Media Group, a holding company newly formed by Surface Media which will also include print magazines Surface and Watch Journal. Terms of the deal were not disclosed.
In May, HHR also advised Condé Nast in the sale of Golf Digest to Discovery Inc. and Brides magazine to digital media company Dotdash, a subsidiary of IAC.
Founded in 1909, Condé Nast now 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 sale drew national media coverage, including in The New York Times, The Deal and other news sources.
Michael Traube led the team, which also included Ken Lefkowitz, Shane Stroud, Matthew Syrkin, Steven Greene, Alan Kravitz, Jaime Steinfink, Ben Ferziger, Dena Smith, M. Shams Billah, Donald D’Amico and Nathalie Rey.