Interest in buying W magazine has ramped up this month, with the Condé Nast fashion glossy said to have roughly 15 potential suitors.
As it made available a fact sheet on its current business and prospective go-forward business value and potential, WWD reported nearly all of those interested are thought to be investment groups, many outside the U.S., and not traditional publishers.
Momentum around the magazine’s longtime editor in chief, Stefano Tonchi, getting financing together to buy it himself seems to have died down considerably.
The next phase of the process is for a handful of those entities still interested in acquiring the magazine to sign a non-disclosure agreement in order to view the title’s legal and financial history.
It’s likely that this process will not be complete before February, but a sale could come quickly once a competitive bid or two comes in. The current asking price being floated around is said to be about $8 million.
With the uncertainty around the magazine’s future, W has recently lost some longtime staffers including senior market editor, Sam Walker, along with jewelry editor and grand-niece of the late Hubert de Givenchy, Gabriella de Givenchy, as well as executive digital director, Sarah Leon.
A Condé spokesman declined to comment.
