Jeff Bezos Rumored to Buy Vogue as a Wedding Gift for Lauren Sanchez
Speculations are being fueled regarding Jeff Bezos alleged plan to purchase Condé Nast.
The Wedding Gift of the Century
Jeff Bezos is rumored to be purchasing Vogue’s parent company, Condé Nast.
Speculation has risen after Vogue’s recent Lauren Sanchez wedding cover and further after Anna stepped down from her position as Editor-in-Chief of American Vogue a few weeks ago.
Since 1959, Condé Nast has been privately owned by the Newhouse family under Advance Publications. The Newhouse family claims the rumors are untrue.
An anonymous source told Daily Mail:
“The rumor that Jeff is going to buy Condé Nast is all anyone’s talking about in the fashion industry and inside Vogue.
Lauren Sanchez is such an unlikely cover star, and the word is that she landed the July issue partly because the Newhouse family want to butter up Bezos. In New York, they’re slimming down the business which is exactly what companies do before a sale.
Anna is said to be the one brokering the deal so that’s why Lauren was put on the cover. Anna has equity in the business so has a lot to gain from a sale.”
Condé Nast has ownership of Vogue, The New Yorker, and Vanity Fair and is estimated to be worth around $5 billion, according to The Hollywood Reporter.
Bezos previously bought The Washington Post in 2013 for $250 million in cash.
Many are left questioning Vogue’s business direction at this time due to recent layoffs globally in Vogue.
UK Staff are now operating out of a WeWork space near Waterloo station after Vogue’s Hanover HQ was sold.
Although the rumors of Bezos buying Condé Nast have not been confirmed, the fashion industry is on watch for what will happen next within Vogue with all of these recent changes.
In other news, Lauren Sanchez lost the bid on the record-breaking original Birken bag, owned previously by Jane Birkin herself. The bag sold to an anonymous bidder for $10.1 million, making it the most valuable handbag ever sold at an auction.