A newly formed holding company, Future Media Group, acquired W from Condé Nast, the companies said today. Formed by Surface Media, the new company will include brands Surface, Watch Journal and W and will posture itself as a portfolio of luxury brands.
This is the third title Condé Nast has sold in the past month. In May, the publisher said it was selling Golf Digest to Discovery Inc. and Brides to Dotdash. Exact financial details for this sale were not disclosed, but Condé will continue to oversee ad sales and operations for digital and video in the transition.