Conde Nast plans to sell three of its 14 magazines, Brides, Golf Digest and W, the New York Times reports, citing current and former Conde Nast executives who spoke on the condition of anonymity.
Conde Nast lost more than $120 million in 2017. Among its titles are Vogue, Vanity Fair and The New Yorker.
Robert A. Sauerberg Jr., the company’s chief executive, will talk to senior staff members on the matter on Aug. 8, the paper reports.
The company also plans to rent out at least six of its 23 floors at 1 World Trade Center, where the company has its headquarters. The New Yorker and Vanity Fair will leave their current locations to clear way for new companies to rent.
Steps taken at the company over the last ten years, including shuttering Details, scraping the print versions of Self and Teen Vogue, layoffs and sharing magazine departments of magazines, have not staved off the selling, the paper reports.
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