Penske to Acquire Fairchild Fashion Media
Condé Nast wouldn’t comment. But according to New York Times media reporter Ravi Somaiya, Jay Penske is about to add an impressive group of media properties to his PMC empire.
From Somaiya’s report:
Condé Nast plans to sell Fairchild Fashion Media, the group behind trade publications like Women’s Wear Daily and Footwear News, to Penske Media for around $100 million, according to a person familiar who has been briefed on the deal.
Fairchild’s employees will go with the new company, the person, who spoke on condition of anonymity to reveal an as-yet unannounced deal, said.
Also in the mix would be website style.com
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