Rumor: Apple could be looking to acquire Condé Nast | iLounge News

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Rumor: Apple could be looking to acquire Condé Nast

A new rumor briefly reported in The Guardian (via 9to5Mac), suggests that Apple may be interested in purchasing Condé Nast. The rumour was mentioned as an aside in a larger report on Apple’s general move into media, and suggested that Apple may be “looking to buy parts of all of the troubled magazine publisher,” going on to suggest that such a move would be intended to further Appel’s push to become a luxury fashion accessory, lifestyle, and content brand. Although The New York Post followed up on this report by citing Condé Nast CEO Bob Sauerberg as denying the rumours outright, saying, “We are not for sale.” The Guardian report also didn’t cite any specific sources, only vaguely mentioning that rumours have circulated, although it also mentioned “insider” sources as saying that Condé Nast has been struggling to turn a profit, and lost $100 million last year despite revenues of $1 billion. It’s also worth noting that the rumours mentioned suggested that Apple may only be looking to buy “parts of” Condé Nast, and may have therefore been indirectly related to Apple’s recent acquisition of Texture from Next Issue Media LLC, of which Condé Nast is a stakeholder.

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