“A fresh round of rumors about Condé Nast was ignited over the weekend — this time by a report that Apple could be eyeing all or part of the glitzy publisher of Vogue, Vanity Fair and the New Yorker,” Keith J. Kelly reports for The New York Post.
“The Guardian cited no sources and reported it only as a rumor, although one that has gained more currency in recent months. Condé Nast, for its part, was quick to shoot it down Monday. ‘We are not for sale,’ said Conde Nast CEO Bob Sauerberg,” Kelly reports. “Still, it is a rumor that has been hard to shake. ‘With budgets reduced, especially for print, Condé Nast is in a very vulnerable position,’ said industry consultant Steve Blacker, noting that rivals Meredith and Hearst are now both bigger. A sale price could be anywhere from $1 billion to $2 billion if a bidding war erupts, according to Blacker.”
“Gene Munster, a co-founder at Loup Ventures, said that Apple could be interested because hardware sales tied to the iPhone have slowed and weighed on its stock price,” Kelly reports. “‘We bet that content is not just going to be video and music, it is going to include written content,’ said Munster. ‘Apple tipped their hand with their recent acquisition of Texture. They would not have done that if they were not interested in print.'”
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MacDailyNews Take: Everything’s for sale at the right price.
Apple to acquire Next Issue Media and its digital magazine-subscription service Texture – March 12, 2018
Apple sponsoring 2017 Met Gala along with Condé Nast, Farfetch, H&M, and Maison Valentino – October 24, 2016
Jony Ive and Marc Newson open Condé Nast International Luxury Conference – April 22, 2015
Condé Nast, Hearst, Meredith, News Corp., and Time Inc. team to create ‘Hulu for Magazines’ – December 8, 2009