Conde Nast, which announced earlier this month that it would launch a new business magazine called Portfolio in April 2007, wants to sell three industry publications — Supermarket News, Home Furnishings News and InFurniture, according to a story in Crain’s New York.
Reporter Catherine Tymkiw wrote that the publications three titles are part of the deal when S.I. Newhouse bought Fairchild Publications Inc. from the Walt Disney Co. in 1999 for a reported $650 million.
“While each of these properties plays a leading role in the markets they serve, they reflect areas of business to business publishing that are not key to our core mission,” said Group President Mitch Fox in an internal memo.
About 70 editorial and other staff will be affected by the sale. The company declined to say whether it has received any offers for the three magazines.
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