Condé Nast, New York, is consolidating all of its digital assets into a single unit called Condé Nast Digital (CND). Condé Nast, a unit of Advance Publications, includes twenty-four consumer magazines, Condé Nast Digital, the Fairchild Fashion Group, Parade, the Condé Nast Media Group, and the Shared Services Centers.
The move was announced today by Charles H. Townsend, president and CEO of Condé Nast, who said, "This move is really a convergence of our strong individual digital businesses into the larger Condé Nast media company. Unifying all of our valuable digital assets under this direction maximises the strength and scale of our digital offering and also enhances their critical contribution to the power of our print businesses. This is a growth based consolidation, not a cost cutting consolidation."
Sarah Chubb, who was formerly president of CondéNet, will be president of the new digital unit reporting to Townsend.
This new unit creates a more efficient way for the company to leverage its digital business and combine that with the unique vertical opportunities it brings to advertisers. The move also allows for a more streamlined approach to growing revenue across the company's digital assets as well as aiding print ad sales through the integration of on-line and print sales and marketing.
Digital media buyers will now have a more efficient way to work with Condé's digital assets through a dedicated sales team. Corporate level advertisers will be able to address digital commitments and opportunities with Condé Nast Media Group (CNMG) Sales Directors as part of their overall relationship with Condé Nast. The CND unit will incorporate the CondéNet sites including Epicurious.com, NutritionData.com, Concierge.com, HotelChatter.com, Jaunted.com, Style.com, Men.Style.com.
Wired.com, Reddit, Ars Technica, and Webmonkey, as well as the individual magazine branded websites, and Brides.com, a bridal destination site. WWD.com will remain part of the Fairchild Fashion Group, the Company's B2B unit.
"In today's marketplace advertisers are looking for substantial scale, ease of buying, and the ability to measure user engagement," Chubb said. "Combining all of the company's digital assets under one umbrella allows Condé Nast to have the unique advantage of possessing all three of these essential components. This consolidation and alignment of our assets, allows The Condé Nast Media Group to maximize our revenues and bolsters our position as a formidable player within the multi-media arena," Richard Beckman said, president, Condé Nast Media Group & CMO, Condé Nast.