About six years ago, Tom Florio, then the publisher of Vogue, had an idea. He wanted to expand the fashion bible’s brand into a new platform: online television. The magazine’s discerning editor-in-chief, Anna Wintour, approved and Mr. Florio found blue-chip financial investors who did too. He’d been working on the proposal for nine months when he presented it to Si Newhouse, Chuck Townsend and other top Condé Nast brass.
“I hate it,” Mr. Newhouse said.
Encountering Mr. Newhouse at a dinner party a few days later, Mr. Florio asked the Condé Nast chairman to elaborate on his abrupt dismissal of the idea.
“All that did was make money,” the boss told him.
Forbes came out with its rich people in America list, so let’s play a little game among the media set. Here are 5 media moguls, and here are 4 figures that represent their net worth. See how many you get right!
1. Rupert Murdoch
2. Ted Turner
3. Si Newhouse
4. Charles Dolan
5. Read More
ListsThe Koch Brothers
Forbes released its annual list of the 400 richest Americans last night, and the two New Yorkers in the top ten have swapped positions. David Koch, the billionaire right-wing Tea Party benefactor, has seen his fortune increase to a hefty $21.5 billion, placing him fifth on the list. Bloomberg’s riches increased as Read More
Barbara Fairchild is leaving Bon Appetit after 32 years at the magazine, Conde Nast announced this afternoon. She will remain editor-in-chief until a successor is named.
Last year, after Conde Nast made the surprising decision of closing Gourmet and retaining Bon Ap, Ms. Fairchild was hailed as sort of a forgotten hero at Conde Nast. Apparently, her position Read More
Conde Nast decided a summer Friday afternoon would be the perfect time to announce a new president at the company. Bob Sauerberg is becoming the president of Conde Nast, and will be responsible for moving “the company to a new business model focused around digital connectivity, technology development, and consumer insight,” according to a press Read More
“I’m a media guy, not a fashion guy,” said Peter Kaplan, the new editorial director of Fairchild Fashion Group. “What I want to be thinking about is how to take these brands and get ahead of the culture in media terms.”
Though Mr. Kaplan emphasized again and again that he is not taking over Read More
The Observer’s Eliot Brown just broke the news that the Port Authority has selected Douglas Durst to buy a stake in One World Trade Center, the 102 story tower being built downtown.
Conde Nast is interested in moving into the tower, and now that Mr. Durst has his hands on the tower, it makes the possibility of a Read More
Two announcements out of 4 Times Square today, both of which the company hopes help move it ever so slowly into the future, even if these are concessions that would have been unimaginable to Si Newhouse and many editors within the company just two years ago.
First up, welcome special editions! On the Read More
Condé Nast group president David Carey met with Chuck Townsend at 9 a.m. this morning to tell him he was replacing Cathie Black as president of Hearst magazines.
“Five minutes into the conversation today, he just got it,” said Mr. Carey in a phone interview with The Observer. (We wonder what those first five minutes Read More
Conde Nast is bringing Gourmet back in the form of an app.
It’s an experiment for Conde Nast: They’ll take a magazine they folded (because they said it lost too much money) and replace the printed product and the employees they laid off there with a big internet community. And the Gourmet archives.
The “Gourmet Read More