Report: Condé Nast plans to sell Golf Digest
As discussed briefly in the , Golf Digest appears to be on the auction block.
Per a report by Edmund Lee and Sapna Maheshwari of the New York Times, GD’s parent company, Condé Nast, reported a $120 million loss in 2017. A decline in ad revenue was blamed: “The $120 million loss in 2017 was the result of a sharp decline in the ad revenue generated by the print magazines,” according to the article.
The report states that, “based in part on the recommendation of Boston Consulting Group, the three magazines that the company will try to sell are Brides, Golf Digest and W,” according to executives.
The mass media company has owned Golf Digest since 2001.
Condé Nast’s chief executive, Robert A. Sauerberg Jr. plans to address senior staff August 8, at which point we may know more.
In the meantime, full piece here.