There’s a new mass media mogul in town. Jay Penske is buying Women’ersus Wear Daily, otherwise known as WWD, and Fairchild Publications through Conde Nast. The price is said for being $100 million. Penske already possesses Variety and a list of websites that includes Timeline.com. Now the 30 year old becomes an overnight media mogul while he adds more excellent titles to his or her holdings at Penske Multimedia.
Conde Nast will hold on to H Magazine, which was your spin off from WWD. Conde received bought Fairchild from Disney in 1999 designed for $650 million. But Conde have their own problems as most print mags battle with advertising and importance.The web has tremendously destroyed print. Unloading Fairchild’ersus trade publications is a brilliant idea for them. As well as Penske has really developed as being an online presence. Adding WWD is practical as Penske makes? inroads in the fashion world is a organic step.