Condé Nast Sells Fairchild Fashion Media to Penske

Style.com, NowManifest remain under Condé umbrella

In an effort to refocus on its consumer brands, Condé Nast is selling Fairchild Fashion Media—owner of B-to-B publications Women’s Wear Daily, Footwear News and Beauty, Inc.—to Penske Media Corporation for $100 million, according to The New York Times.

Condé Nast will retain ownership of Fairchild’s consumer-facing brands Style.com and NowManifest. Fairchild CEO and president Gina Sanders will remain with Condé parent company Advance Publications “in a new role to be disclosed shortly,” WWD reported.

“Today’s announcement reflects our strategy of investing resources in our core consumer brands,” Condé CEO Chuck Townsend told WWD.

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