Condé, Hearst Form Circulation Company

PubWorx will be a 50/50 venture.

Condé Nast and Hearst Magazines have joined forces to create PubWorx, an independent company that will handle production, procurement and circulation for both publishing houses.

Al Perruzza, most recently executive vice president, business operations at Reader’s Digest, will lead PubWorx as CEO. He’ll report to a board that includes Condé and Hearst Magazines execs.

“Having the two parent companies as its first clients sets PubWorx up for success and we are looking forward to the new company developing untapped business opportunities with its unique position in the market,” said Condé president and CEO Bob Sauerberg, in an announcement.

David Carey, president of Hearst Magazines, added that he was “thrilled to continue building our business relationship with Condé Nast.”