Rap-- some GOOD news...
Disney Said Selling Fairchild
NEW YORK (AP) - The Walt Disney Co. (NYSE:DIS - news) has decided to sell Fairchild Publications, a magazine
division that includes W, Women's Wear Daily, Los Angeles and Jane magazines, The New York Times reported today.
Conde Nast Publications and Hearst Magazines have been involved in bidding on the titles, a Disney executive told the
newspaper. Conde Nast has offered $650 million for Fairchild.
The jewel of the acquisition would be W, a glossy fashion monthly that has become a general-interest magazine over the last
four years. W has taken apparel advertising from magazines at both Hearst and Conde Nast.
Disney has been under pressure to sell some of its assets to concentrate on its core businesses - its studio and theme parks,
the Times said.
Conde Nast, a division of Advance Publication, also publishes Glamour, Allure, GQ, Vanity Fair and The New Yorker,
among other magazines.
In addition to Harper's Bazaar, Hearst Magazines publishes Town & Country and runs several newspapers and television
stations. It recently announced it would publish Oprah, a lifestyle magazine with Oprah Winfrey as its brand spokeswoman.
Hearst Magazines also joined Miramax Films, a division of Disney, in publishing Talk magazine, which made its debut last
week.
The Fairchild group also publishes several trade magazines including Supermarket News, Brand Marketing, Footwear News
and Children's Business. |
