W Magazine Reportedly Has an Interested Buyer
Will W Magazine soon have a new home? WWD reports that the venture capital firm C Ventures is in talks to buy the publication. The firm’s portfolio includes numerous fashion commerce and social media platforms. It is also a minority shareholder in Dazed media.
The sale of W was confirmed by Condé Nast last August. Almost immediately rumors swirled that EIC Stefano Tonchi was trying to by the magazine himself (with the help of investors), thus making it an independent publication. Condé wanted to have a deal in place by the end of 2018, along with deals for two other publications it is selling (Brides and Golf Digest). So far none have sold.
Apparently Condé’s original asking price for W was $ 8 million. Negotiations, however, have allegedly knocked the price down closer to $ 7 million.
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